£400 per month to invest - Where?

Draeger · 8 Jul 2013 at 09:57

First of all, the question I'm asking would obviously be hypothetical and professional advice would indeed be sought over a monetary matter such as this (in before the 'don't ask this on an internet forum, seek pro advice' comments

).

I may be in the position in the next few months where I have a spare £400 per month to invest. What do folk recommend for a medium to long term (10-20 years) investment for a monthly amount such as this?. Just putting the fellers out, like. :cool:

Hyburnate · 8 Jul 2013 at 09:58

A house.

starfighter · 8 Jul 2013 at 10:04

Could get a nice car with that. Otherwise house or ISA.

Draeger · 8 Jul 2013 at 10:04

Got one of each (car and house) already, ta.

*EDIT* Actually a BTL appears to be a bit of a risk as does commercial property. Then there's the fact that you would require a 25% deposit to go down that route anyway.

So, ISA's and saver accounts then?.

The Funktopus · 8 Jul 2013 at 10:16

Overpay your mortgage and get rid of it early?

Joshct · 8 Jul 2013 at 10:18

400 £1 scratch cards.

Janesy B · 8 Jul 2013 at 10:18

starfighter said:
Could get a nice car with that.

Since when is a car an investment?

james_2k · 8 Jul 2013 at 10:22

http://static.cargurus.com/images/s...1967_ford_mustang_shelby_gt500-pic-20990.jpeg

NO HOTLINKING.

Draeger · 8 Jul 2013 at 10:22

The Funktopus said:
Overpay your mortgage and get rid of it early?

Yeah, this is something we were considering.

I realise that in the grand scheme of things £400 isn't a huge amount per month to play with as far as investing goes, what sort of return in the shape of ISA's would one expect at current rates for this monthly amount, anyone have any idea?. Ball park?.

Cuchulain · 8 Jul 2013 at 10:29

Draeger said:
Yeah, this is something we were considering.

I realise that in the grand scheme of things £400 isn't a huge amount per month to play with as far as investing goes, what sort of return in the shape of ISA's would one expect at current rates for this monthly amount, anyone have any idea?. Ball park?.

An ISA probably won't give any gains over the interest rate on your mortgage, pay the latter off first.

ci_newman · 8 Jul 2013 at 10:29

Clearing off your mortgage would be a far better idea, returns in ISAs etc are unlikely to make you a massive profit vs. the interest costs on your mortgage.

Havana_UK · 8 Jul 2013 at 10:30

If you're paying anything over 3% interest on your mortgage then the best place to invest your spare cash right now is in your mortgage.

Raumarik · 8 Jul 2013 at 10:38

Dump it on your mortgage for the next year then re-assess

Shadez · 8 Jul 2013 at 10:56

i would put it into the make me richer savings scheme,

20% interest terms and conditions apply*

in order to open the account please send your credit card details to Nigerian Prince Investments, 1 Falicey Square, Nigeria, C0N-UM.

*withdrawal requests must be in writing please allow 1000years for payment to arrive

gigeorge · 8 Jul 2013 at 10:59

Clear the mortgage !

B@Th*nG · 8 Jul 2013 at 11:00

mortgage by a mile

B@

Rybo89 · 8 Jul 2013 at 11:04

james_2k said:
http://static.cargurus.com/images/site/2007/10/30/17/27/1967_ford_mustang_shelby_gt500-pic-20990.jpeg[img][/QUOTE]

Little man just twitched.

Put the extra £400 into your house. Also, if you like holidays, pay off a holiday with it.

What i do.

Doomedspeed · 8 Jul 2013 at 11:06

Joshct said:
400 £1 scratch cards.

Rubbish idea,

Get 80 £5 scratch cards.

elmarko · 8 Jul 2013 at 11:09

Clear debt before saving, which includes car/mortgage or pretty much anything you are getting shafted with a high APR (compared to what you would get saving).

Is what I'd do.

godinman · 8 Jul 2013 at 11:13

Mortgage, don't how big a one you've got (mortgage) but you could shave many many years off it, imagine having a mortgage free house at 40 or whatever. :cool: