Year 12s: what will be the first way you research your future options? >>

How to invest £600

SkinFadeHaircut

What's the best way to invest £600, like savings account or something, I want to use it to make money?

Casino

My nigerian bank of course, madame.

Stock market.

Original post by Victor-PP

Stock market.

Elaborate

???

put it all on red!

Original post by SkinFadeHaircut

Elaborate

???

I don't think the stock market is the best way to invest your £600.00 unless you know what you are doing or are willing to learn how to invest in stocks ect.

If you know little about the stock market, I would suggest you either put it in a high interest savings account(which is hard to find these days) or use it to turn a small profit buying and reselling on ebay or the like. The 1st option is low risk low return, the second option is again low risk, although it requires spending time to turn a profit.

(edited 13 years ago)

Reply 7

knowlton

i would go use about £150 of it to do matched betting - with that you could probably make £600-£700 with fixtheodds.com....

Reply 8

neb1405

Original post by knowlton

i would go use about £150 of it to do matched betting - with that you could probably make £600-£700 with fixtheodds.com....

£150 in matched betting = £600 (low estimate)
£600 + £600 = £1,200

THEN

put it in a managed fund (like a fidelity fund) investing at £50 per month...

£50 x 12 months = £600

yields can vary between 1% - 30%, however you will need to do your research - as always, managed funds, like any financial product holds risk...

and personally i would put £500 in stocks and shares and save the remaining £100.

however it all depends on your personal financial situation...

Reply 9

MeWantConsultant

I know a great company called Enron....

Reply 10

simstar

Put it into a fund like hargreaves lansdown http://www.h-l.co.uk/investment-services or invesco or something. You pick can high to low risk funds, depending on your preference. These are a lot more secure than investing in a one company alone in the stock market and with only 600 quid you probably wont be able to spread it about much so a fund is your best hope. Do a bit of reading and look into it.

To be honest though, its a terrible time to invest in any savings account.

Hong Kong resident?

Original post by SkinFadeHaircut

What's the best way to invest £600, like savings account or something, I want to use it to make money?

Well, shares can produce some of the best results.

Alternatively, they can reduce your £600 to £400, so it's a bit risky. That said, although there have been many stock market crashes throughout the world, the stock market has always come back with a vengeance so ultimately it should pay off, providing the company doesn't go bankrupt or something.

The safest way is really in a bank account although interest isn't that great nowadays. Alternatively, there are bonds which can be a good idea if you don't need the money for a set period of time.

So really, the best way to invest £600 depends on what you want to do with it. Maybe check out Martin Lewis' website for some further tips (http://www.moneysavingexpert.com/)

(edited 13 years ago)

Reply 13

Jampolo

Gold and Silver.

There have been some good suggestions but this is by far the winner..
http://www.moneyweek.com/investments/precious-metals-and-gems

Reply 14

R92

Original post by Jampolo

Gold and Silver.

There have been some good suggestions but this is by far the winner..
http://www.moneyweek.com/investments/precious-metals-and-gems

How on earth is he going to buy gold, when he does not have enough money to make a small purchase in gold???

The current price is 892GBP for one oz of gold, he can't even buy the smallest tradeable quantity!!