Hi.
We have just got married. We have €15k in savings currently sitting in our current account. From October, we will be able to put a total of €2000 per month into it. We will be saving to buy a site to build our home. I am a first time buyer.
We are both PAYE taxpayers, and we will be hoping to get a mortgage in 4 years time if we think the market has bottomed out then. Our first question is: is there any way we could put this money away every month and reduce our PAYE tax liability at the same time (yes, we're thinking of the SSIA scheme of old)?
Second, given our above intentions, what would be the most appropriate account to put this money into. We're aware that its current position in a current account is not optimum, but it's staying there until we find the wisest alternative. We could go into BofI and speak with their financial advisor on Tuesday but we figure her/his advice would not be independent hence this request here.
Thank you to everybody for assistance.
We have just got married. We have €15k in savings currently sitting in our current account. From October, we will be able to put a total of €2000 per month into it. We will be saving to buy a site to build our home. I am a first time buyer.
We are both PAYE taxpayers, and we will be hoping to get a mortgage in 4 years time if we think the market has bottomed out then. Our first question is: is there any way we could put this money away every month and reduce our PAYE tax liability at the same time (yes, we're thinking of the SSIA scheme of old)?
Second, given our above intentions, what would be the most appropriate account to put this money into. We're aware that its current position in a current account is not optimum, but it's staying there until we find the wisest alternative. We could go into BofI and speak with their financial advisor on Tuesday but we figure her/his advice would not be independent hence this request here.
Thank you to everybody for assistance.