best place for £3,000???

tigerstyle

tigerstyle

tigerstyle

Soldato
Joined
18 Oct 2002
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I've got £3K I need to put away somewhere really safe which isn't under the mattress, in your bank or splashed on a big TV

A real genuine savings account, who can do the most bestest money maximizing deal???

Nationwide ISA at 3%?

I have nothing else savings wise so a new ISA is no problem

Cheers gurus!
 
Anything over 3 years put in an FTSE tracker, inside an ISA wrapper, search online for low fees.

Anything under 3 years fix for 1 year at Northern Rock at 3.2% in an ISA.

Edit : Commercial comparison sites are not whole of market and may promote some deals over others, or may exclude some providers. Use the FSA one instead.

Don't fix for over a year.
 
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Precious metals.

actually buy precious metals, gold, silver, platinum etc.. so you have it in your hand.

numismatic coins are the best, they are fun to collect and can make you a lot of money, put it this way gold was around the $700 dollar mark per oz this time last year, its now over $1k. Silver is a bit easier to collect because its a lot cheaper.. but the gold sovereigns are very cool imo.

Your metals will always have some value, where as your cash money will devalue as inflation increases over the years... the more the international bankers print to ease us into this crisis the less your cash will actually be worth.

in general the more they print the more gold as other commodities will increase... experts are saying they cant see it topping out until at least $1,600.

that's my advice anyway, much better than loosing money when you give it to the bank.
 
Do NOT NOT NOT buy gold.

It's at a huge high and will at some point return to historic levels. You will be putting all of your eggs in one basket. Gold will return to around 1/2 of what it is now, when it does that it'll do that very quickly as investors jump off the ship.

Additionally the pound is at a low point, which means you'll get less gold for your money... when the pound goes back up your gold will be worth less.
 
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A bank might ask you to prove where the money came from. I think it's standard procedure when dealing with large amounts of cash.

As for spending, don't bother with a TV. Blow it on sex, drugs and alcohol. £3k will buy you a memorable week in Amsterdam, figuratively speaking.
 
The Halk said:
Do NOT NOT NOT buy gold.

It's at a huge high and will at some point return to historic levels. You will be putting all of your eggs in one basket. Gold will return to around 1/2 of what it is now, when it does that it'll do that very quickly as investors jump off the ship.

Additionally the pound is at a low point, which means you'll get less gold for your money... when the pound goes back up your gold will be worth less.
Click to expand...

Indeed. It's never a good idea to buy into something when everyone else is selling!
 
My opnion is that when the correction happens the value of gold will sink past what it will settle at going forward. So there could be money to be made buying it at the lowest price. Good luck working out what that is! Gold ownership has drastically increased, but then again a lot of non-invested gold has been sold, so there's no telling what the final stable price will be.
 
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