Got some money...invest it?

Biz.Kid09 · 24 Mar 2011 at 20:40

Ok,
I am 16 and been saving up since Day 1

and along the way having bought my pc, laptop, phones etc. I have decided i should do something with it. Now i have around 1200 in my savings account but i am thinking i should invest it into something or put it in a ISA account?

Anyone recommend any types of accounts etc i should use to get some use out of my money?

Dont say go on holiday etc please guys i already have a separate account for that

Biz.Kid09 · 24 Mar 2011 at 20:47

Premium Bonds, that through the bank or?
Also if i need the money i am guessing that i cannot take the money out?
S&S...Can you explain this? I googled but it brought up hitler and nazi's

Biz.Kid09 · 24 Mar 2011 at 20:57

Paul11 said:
premium bonds : here

http://www.nsandi.com/savings-premium-bonds

you can take your money out at any time

S&S = stocks and shares

you buy shares in a company and hopefully the company does well and the shares are worth more

Thanks

[TW]Fox;18745039 said:
Good idea guys - a 16 year old comes on here with what sounds like his life savings and you all try and get him to buy silver or shares because you once saw on google that it was a great idea. Brilliant.

If you invest in commodities, stocks and shares you must do so whilst being aware that the value of your investment can go down as well up - in some circumstances you could lose everything. The risk is quite huge - there is no such thing as a safe bet - so advising a guy of his age does that sort of thing is ridiculous, frankly.

Pop it into a decent savings account - you probably wont earn enough money at the moment to be taxed on savings - and leave it there until you need it.

Alternatively, take the advice of the silver and share pushers, most of whom probably dont own a single share or a single ounce of silver themselves.

Thanks,
I hadn't really thought about it like that as much.
I guess it may just be best for now to keep it in my savings account.
Saying that i wouldnt mind risking a few hundred. Is there a minimum as to what you can spend on stocks and shares?

Biz.Kid09 · 24 Mar 2011 at 21:01

Thanks guys,
I guess i will just keep it in my account for now then, At least until i start working then i will have some income i can risk.

Biz.Kid09 · 24 Mar 2011 at 21:08

Would something like £100 get any silver? or would it not be worth it?
How would i go about buying it then selling it?

Biz.Kid09 · 24 Mar 2011 at 22:31

WOAH!
Did not expect 3 pages.

Well i have done some research and decided that for now it is best for my money to stay in a savings account.

Thanks all for your suggestions though.