Hey redditors,
As the title suggests, I have £40k in savings spread across two savings accounts, currently generating around £120 interest per month which I appreciate isn’t terrible but I feel like I could make better use of it.
For a bit of context: I don’t have any significant bills, make 24k per year currently, would prefer to have a low risk option where I can withdraw invested funds if I wanted to. I don’t want to actively buy/sell stocks & shares, would rather just invest the money somewhere, leave it and see a steady upwards trajectory. Not interested in quick gains, just a slow increase in the value over time. Anything more than the £120/month I’m generating at the moment would be preferable.
Rather than having the money spread across multiple places I’d prefer to have it in just one place, but open to having it in 2-3 places if that was clearly the better option.
Any thoughts/suggestions would be welcome as I’m a complete novice re. investing.
Thank you for your contributions!