You have 7,000 in saving and are saving 350pm, which is not bad at all. If you have concerns, maybe reduce the overpayment to say 300 and increase monthly savings to 500. That would add 6,000 over the course of a year and bring your reserve to €13,000 (plus interest) which is a decent bit of wriggle room. I would not be putting this money into equities, but on deposit or in a regular saver account giving a decent rate of interest.