what to do with £2000 - dont want to spend it

Ice Tea said:
You can tell that addy_010 doesn't have a serious girlfriend if he can save £2000
and not know what to do with it.

:D
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hey that wasn't nice, i do to havea serious gf, see her everyday, used to be all day but atleast 4/5 hours a day now.

I'v managed to save it because I dont really spend it on anything and have some easy jobs such as house cleaning, can clean a house in under and hour and get paid £14 for it :D Also from google ads etc nice load of money coming in.

Also i dont smoke or drink compered to my brother who spends roughly £30 per week on drinking, and a friend who spends atleast £50 on drinking and smoking so since october its been easy to save.

Thanks everyone for the help so far, going to have do check out all the options every has suggested and reply back what i decided to do.
 
sniffy said:
Just a question to people who know how the stock market works. Say if you spread X amount of money over say 15 companies in the FTSE 100 that generally make a profit over time and you think are unlikely to go broke anytime soon (BT group, Tesco etc..). Are you likely to always see a return on your money over say a 3 year period? If so, what would be the average return on your money? Would it be likely to outperform other methods of making your money work for you?
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Well, that is the holy grail. It all depends on whether those 15 companies make a good profit or not. Many do, but many don't. Tesco may be regulated soon as it is too big, hitting profits, but may not and may yield bigger profits. When oil prices rose, BA took a massive hit on profits, but have recovered (but oil may rise again...). It's all a risk basically, and no one can guarantee that you'll make more or less money doing it this way.
 
Are you paying for UNI with it yeh?

Anyway don't bother with stocks, especially with that money, thats little cash for stocks imo its too risky to gamble about with that. Stocks imo should be when you think of 2k as loose change.
 
Thorpy said:
ISA acount?

3 g max

but 5.25% interest

halifax anyway...
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But you have to pay IN £1000 every month to get that rate. Otherwise its about 1.6%, which pretty much sucks. Or is that a different account.

You could stick it in shares. No one is going to bust and loose all your cash, they have payout schemes in place to make sure that doesn't happen, you might not get all your £2000 back but you won't loose everything.

You could ask for financial advice, someone will tell you whats popular and what to buy shares in and they only ask for a little fee, it might be worth it. But I would just stick it in a ISA with someone, no risk and any interest is god interest.
 
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guigenius said:
But you have to pay IN £1000 every month to get that rate. Otherwise its about 1.6%, which pretty much sucks.

You could stick it in shares. No one is going to bust and loose all your cash, they have payout schemes in place to make sure that doesn't happen, you might not get all your £2000 back but you won't loose everything.

You could ask for financial advice, someone will tell you whats popular and what to buy shares in and they only ask for a little fee, it might be worth it. But I would just stick it in a ISA with someone, no risk and any interest is god interest.
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With the one I posted you don't even have to have an account with them, as long as you have a current account with any other bank you can open as isa and get that really good rate.
 
guigenius said:
But you have to pay IN £1000 every month to get that rate. Otherwise its about 1.6%, which pretty much sucks.

You could stick it in shares. No one is going to bust and loose all your cash, they have payout schemes in place to make sure that doesn't happen, you might not get all your £2000 back but you won't loose everything.

You could ask for financial advice, someone will tell you whats popular and what to buy shares in and they only ask for a little fee, it might be worth it. But I would just stick it in a ISA with someone, no risk and any interest is god interest.
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Uh? ISA provides 5.25% no matter who you are or what you do. Depending on the bank of course. My bank provides 5.25% interest even if I didn't put any money in it, its an ISA of course.
 
themistry said:
How on earth di you get to this? Please explain what "propper inflation" is and "M4 supply money".

If inflation was 13%, the UK would be deserted!

TM
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The amount of money being created in the economy each year is 13% (right now) ..... this is offset by the increase in GDP which is the 'supposed' growth in the economy - so if you are printing/creating money at a faster rate than the economy is growing, you are devaluing your currency effectively. The government prints money to pay for things like wars and other things, and it does it before people 'catch on' - sooner or later the market adjusts and prices go up to reflect this.

So - the government 'says' inflation is between 3 and 4.5 percent, depending on what figure they use .... this is basically just a lie to keep people sweet ;)

Everything is significantly more expensive in the past ten years than it was previously - a lot of people said the new minimum wage was a great idea, but i didnt feel any worse off when i made 2.80 an hour, than people today who earn 6 quid ..... if a bus fare has doubled, a cup of coffee/tea has trebled along with other things like houses, council tax and bills .... then there you go.


Long explanation, but i'd like to bet that the purchasing power of 2 grand wont be as powerful in 10 years time, even if you put it in a 'high interest' ISA account .... somehow i dont think you'd be sitting on a kings ransom eh ;)
 
brid said:
Long explanation, but i'd like to bet that the purchasing power of 2 grand wont be as powerful in 10 years time, even if you put it in a 'high interest' ISA account .... somehow i dont think you'd be sitting on a kings ransom eh ;)
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And thus he should just blow it all on a big fat LCD telly and a PS3 :)
 
brid said:
<snip>
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Thats actually very interesting and accurate. I think the major issue is that we are fueling growth through increasing debt, so any correction is going to be even more catastrophic.

Great for those who have money stashed away in savings for when the rate hikes come, soo... not many of us then :)

We have to hope there are other measures and circumstances in place to offset against the above mentioned.

I hope.

TM
 
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