After clearing any debts and putting some savings aside, making the most of your redundancy money should be a priority.  Here are a few things to think about if you’ve got some redundancy money:

1. Can I afford to put some money away?
   You may need your money in the short term if you are looking for employment, but if you can afford to leave some or all of your lump sum invested for a number of years, it has the potential to grow. Our budget planner can help you to find out how much you could afford to consider for saving or investing.
2. Should I 'save' or 'invest'?
   Whether to save or invest depends on your circumstances, how long you can afford to leave your money and your attitude to risk. Read ‘what is saving and investing’ to find out more.
3. Can I get access to my money if I need it? Different types of account or investment have different levels of access. You should ensure you will have enough money to cover your outgoings during any period of unemployment.
4. Could I lose my money?
   Your attitude to risk is one of the factors that will determine where you should put your money. If you take a risk with some of your money by investing in assets that could rise or fall in value, there is no guarantee you will make a return on your investment or even that you will get back the same amount you invested in the first place. Read ‘risk and reward’ for things to consider. 
5. How long would I have to leave my money invested?
   Generally, the longer you can leave your money, the higher the returns could be. If you want to invest some money in the short term, lower risk options are usually more suitable. Try our investment calculator to see how much your money could grow.
6. What are my options? 
   You can put your money into different ‘asset classes’ - cash, fixed interest, property or equities. Read ‘asset classes’ to find out the different features of each, then read on to understand more about product options.

What next?
If you’d like to find out more about what to do, you can either follow the link at the bottom of the page or,  if you prefer, you can use the links and tools on the right.