What to do with 1k

Ayahuasca · 9 Jan 2015 at 13:01

Buy 5 bitcoins

Pestilence · 9 Jan 2015 at 14:55

Spend it on gold, then melt the gold and fashion it into a fabulous statue of your penis.

WxM_IeuaN · 9 Jan 2015 at 15:00

Pestilence said:
Spend it on gold, then melt the gold and fashion it into a fabulous statue of your penis.

LOL I wouldn't need 1k worth of gold to make a statue of that pahaha tenner should do it haha

Steve2000 · 9 Jan 2015 at 15:00

WxM_IeuaN said:
Noo I don't want to spend it, I was wondering where the best place to put it would be i.e. ISA, savings accounts etc

To be honest £1000 won't yield a great deal of interest from any general high street bank accounts, just get whatever savings account your current bank is offering and stash it there as the difference between other banks will only be coppers.

Pestilence · 9 Jan 2015 at 15:05

WxM_IeuaN said:
LOL I wouldn't need 1k worth of gold to make a statue of that pahaha tenner should do it haha

SiriusB · 9 Jan 2015 at 15:35

WxM_IeuaN said:
LOL I wouldn't need 1k worth of gold to make a statue of that pahaha tenner should do it haha

There's a man who is comfortable enough with his own body that he would be proud to display a 1 inch high life-sized gold replica of his giblets.

Mr Jack · 9 Jan 2015 at 15:53

Freefaller said:
It's not a large amount of money so you won't get a huge return on it. Just shove it in an everyday saver and add to it, or save it for a "rainy day" or just buy something you want with it.

Large amounts of money start from small amounts. Much better to put it into a fund and add to it over time than have it languish in a savings account where it will garner pathetically little interest.

There was a recent article from the BBC showing the difference.

Freefaller · 9 Jan 2015 at 16:07

Which is why it is exactly what I suggested to him.

Freefaller said:
Good attitude to have. Put it in an account that you don't use or into a fund and add to it from time to time, it'll add up in time.

Muz333 · 9 Jan 2015 at 16:34

bobbyspangles said:
Invest it in crude oil. Guaranteed 1250% returns.

I remember that thread!

arknor · 9 Jan 2015 at 16:39

double your money with matched betting @ 0 risk and you won't even need more than 100-200 at a time

Cosimo · 9 Jan 2015 at 16:44

Cosimo said:
In an ISA or on Lord Brendy, 14:40 @ Doncaster.

Lord Brendy came in 2nd.

subbytna · 9 Jan 2015 at 16:46

WxM_IeuaN said:
Wondering what's everyone's thoughts on what best to do with 1k?

Perhaps an ISA, but interest rates are so low. I was considering looking at funding circle (https://www.fundingcircle.com) although I may get more interest there is obviously more risk. Is anyone on here using funding circle? What's your experience with it?

What's your thoughts? Just settle for the 2% I may get in an ISA? I'm trying to save for my first house deposit or I could just blow it all on upgrading the PC, it is starting to age

premium bonds

sansnom · 9 Jan 2015 at 16:53

Peer to peer lending? could get 6%+ there, not that it makes f all difference on a 1,000 capital.

Go blow it on a couple of expensive dinners and have some fun

MooMoo444 · 9 Jan 2015 at 16:54

Pestilence said:
Spend it on gold, then melt the gold and fashion it into a fabulous statue of your penis.

Goldmember?

thep02 · 9 Jan 2015 at 19:03

I'd get an ounce of gold and some change to spend, I thought about getting an ounce a week ago and in that time it has gone up by about £25.

EdGey · 9 Jan 2015 at 20:40

Glaucus said:
Stocks and shares have large fees.
You could look at getting funds in an ISA. Like shares, it's still risk, unlike just a savings account.

Why are ISA's a risk?

Glaucus · 9 Jan 2015 at 20:42

EdGey said:
Why are ISA's a risk?

Funds in an Isa
http://www.hl.co.uk/funds

You can do several things in ISA, cash, shares, funds

Souleh · 9 Jan 2015 at 20:54

Glaucus said:
Stocks and shares have large fees.
You could look at getting funds in an ISA. Like shares, it's still risk, unlike just a savings account.

£10 per transaction? At £1000 investment he would need the stock to rise 2% to cover his costs. Not too difficult..

Only use it for stocks if you are interesting in learning how it works and are 100% willing to lose every penny of it. If not, do something else.

Youll never turn £1000 into a lot of money quickly without some luck and if you have any high interest (10%+) loans or credit cards the best thing is to just pay them off.

Otherwise id honest suggest you book a holiday or buy something fun

Mr Jack · 9 Jan 2015 at 21:02

Not stocks, funds. Direct investment makes no sense for such an amount. Stock-based funds make much more sense.

EdGey · 9 Jan 2015 at 21:07

Glaucus said:
Funds in an Isa
http://www.hl.co.uk/funds

You can do several things in ISA, cash, shares, funds

Oh alright, I misunderstood.

I'm safe then.