Best way to invest?

sist_si · 28 Dec 2007 at 15:46

Hi guys.
I'm after a bit of advice here. I have £1000 I want to put away and gain as much interest as I can on it. I know that's not a load of money but for me it's rare to have so much for more than a week! I want to put it somewhere it can make me a bit of cash so I don't go and blow it on booze or dvd's!

Someone suggested an ISA might be the best option but I don't really know much about all that malarkey!

TripleT · 28 Dec 2007 at 15:50

ISA all the way. Tax free and 100% secure.

Glaucus · 28 Dec 2007 at 15:51

isa is 100% safe. There are ways to earn a lot more. But they all have risks involved.

sist_si · 28 Dec 2007 at 15:53

haha...i.e - place it all on red

I'll look into ISA's then I think!

Jez · 28 Dec 2007 at 15:54

Quickest way to increase that capital with total security would be to buy a cheap car at auction and sell it. Rinse and repeat. An ISA wont realise a huge return on such a small amount.

ISA best if all you want to do is chuck it somewhere for safe keeping,

titchard · 28 Dec 2007 at 15:56

Well you could go for a fixed rate ISA or if you're feeling a little more risky you could go with a tracker ISA - you stand to possibly earn more in the long run but you can also lose money too to begin with.

Rich

Glaucus · 28 Dec 2007 at 15:56

Jez said:
with total security

Only if you know what your doing. even then there's always a small risk.

DB_SamX · 28 Dec 2007 at 15:59

p4radox · 28 Dec 2007 at 16:30

All on black.

Zip · 28 Dec 2007 at 16:33

Google fails

ISA = Microsoft ISA Server: Integrated Edge Security Gateway Product

Glaucus · 28 Dec 2007 at 16:34

isa is a tax free saving account. which your allowed to invest upto 3k a year(cash) tax free.

An Individual Savings Account, or ISA, allows investors to make a tax free investment of up to £7,000 a year. Put simply, an ISA works like a tax-free envelope for your savings and investments. ISAs provide several ways to save without paying tax on what you earn from your investment, and you can put money in and take it out whenever you want to. There are two types, maxi and mini ISAs.

A maxi ISA is where you invest the whole amount in one company. This is usually in shares, though it needn’t be. The ISA provider can allow you to put up to £3,000 in cash savings and £1,000 into insurance. With a mini ISA you split your money before you invest it. You can have a mini ISA with three providers or with the same one. The limits are £3,000 in cash, £3,000 in shares and £1,000 in insurance. You don’t have to buy all three parts; you can have just one or two if you want.

Reasteh · 28 Dec 2007 at 16:35

with natwest online banking it shows your current account at the side of your ISA and you can transfer money as easy as pie so its always tempting to just take it out. Also i cannot add anymore money until then end of tax year which sucks :/

Ben M · 28 Dec 2007 at 16:36

put as much as you can into an ISA the rest into an account where there's a bonus for not withdrawing, so you get a nice high rate =]