If someone were to give you £1,000 right now, what would you do with it?

I think I've heard of this experiment somewhere where a group of people were given £1,000 each and told to spend it on whatever they wanted. I think they were people on benefits and struggling and it was to see if they used the money to try and make more money and sort themselves out or just blew it on temporary luxuries, i.e alchohol, tobacco etc. If anyone's heard of anything I might be thinking about then let me know.

But yeah, if this were to happen to you right now, and you were told to do whatever you wanted with it, what would you do? Be as honest as you can.

I'm not sure what I would do with it tbh... I think I would just hang on to it for if something happened where I really needed it, but if I HAD to spend it, I'd buy as much as I could to help get a better job... Maybe a car, or a better suit, or a training course for something. But I know I wouldn't use it for anything temporary.

Straight into my savings account to be honest.

0.1% interest thanks to mark carney.
You lose purchasing power by saving money in this economy.

Best to invest it, find good undervalued securities. Low P/E, good dividend, good dividend cover, low Debt and a general monopoly or near monopoly in the market.

Yeah but I know absolutely nothing about economics and anyway, I'm pretty sure I get like 3% interest or something in my Santander account?

But you can learn! I know engineers and marketing guys making a killing in the city, with the little finance knowledge they have. We all get better over time.

Santander still have the 3% account thing, surprised they haven't cut it. I'm sure it's between £3000-£20000, the 3% applies to.

I have my own portfolio (around £25,000) worth invested in shares and bonds. This last month and a half I made £1800 in profit by investing. That's a 7-8% return in 1.5 months. Which should hopefully in the worst case scenario average out to be a 50% return for the year.

Look up funds. Neil Woodford is pretty famous.

I think I've heard of this experiment somewhere where a group of people were given £1,000 each and told to spend it on whatever they wanted. I think they were people on benefits and struggling and it was to see if they used the money to try and make more money and sort themselves out or just blew it on temporary luxuries, i.e alchohol, tobacco etc. If anyone's heard of anything I might be thinking about then let me know.

But yeah, if this were to happen to you right now, and you were told to do whatever you wanted with it, what would you do? Be as honest as you can.

I'm not sure what I would do with it tbh... I think I would just hang on to it for if something happened where I really needed it, but if I HAD to spend it, I'd buy as much as I could to help get a better job... Maybe a car, or a better suit, or a training course for something. But I know I wouldn't use it for anything temporary.

I could learn but I've currently got about £3000 savings and this isn't going to exceed £5000 for years so I really don't think it's worth it, and honestly I do not think I have the time to study stuff well enough to make sure that I'm not taking huge risks with my money.

I'd buy a cheap, filthy Escort.

Invest it in something big like coca cola. Although tbh I don't even know if that sum would even be accepted.

If not, put it in a bank, slow growth but hey, better than blowing it all off.

Yeah, I heard the same thing. It was an experiment in one of the European mainland countries. They gave the people on benefits their year's worth of benefits in one lump some and those claimants mostly used it to pay off lump sums of their mortgage thus reducing monthly payments. Some used it to start business to get off benefits. But I can't remember where I read about it.

Half of it would go towards a deposit so i can move closer to work.

£100 i'd just add to my usual spending (more trips to cinema, bars ect..)

£400 would be added to my savings pot.



Berkshire Hathaway is the most expensive share you can buy. A single share costs around $150k although your essentially investing in the brain of Warren Buffett.

BRK A (Berkshire Class A Stock) trades around the $220,000-230,000 dollar mark. Reason is, BRK A has never been split. Buffett doesn't want people pumping and dumping his Class A shares, so he has never split them and never paid a dividend.

What you can own is BRK B (Berkshire Class B Stock), probably trades around the $140-160 mark. Gives you less voting rights and is a much fraction smaller than the Class A stock.

So you can own Berkshire by investing in Class B, but Buffett made his money in the 60s and 70s. It can't be replicated by him again, he is too big. You have to find your own way to the top!