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what would you do with a £1000 Watch

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    So basically I managed to save up £1400 and dont know what to do with it. At the moment its pretty useless! I want to do something that will make it grow! :P (with least effort on my behalf! )

    Any suggestions?

    What would you do with the money?
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    Stick it in the bank really (ISA account preferably). Not much you can do with just £1000.
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    Put it in a cash ISA.
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    I recently ran into a bit of money and spent a few months trying to come up with something good to do with it, until I realised that I'd managed to bloody drink it all. If you really want to guarantee a degree of stability and potential growth, buy gold. It's the only thing that you can rely on to retain value with any amount of certainty. I'm not an economic expert, but the way things seem to be at the moment the best thing to do for everyone is for you to spend which helps growth, instead of hording the money away which is one of the economy's problems currently. I think we should just trade in gold to be honest...

    Balls to it, popular opinion seems to have established me as completely wrong! I retract my apparently ill-informed suggestion.
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    (Original post by MrHayden)
    I recently ran into a bit of money and spent a few months trying to come up with something good to do with it, until I realised that I'd managed to bloody drink it all. If you really want to guarantee growth in it, buy gold. It's the only thing that you can rely on to retain value with any sensible degree of certainty. I'm not an economic expert, but the way things seem to be at the moment the best thing to do for everyone is for you to spend which helps growth, instead of hording the money away which is one of the economy's problems currently. I think we should just trade in gold to be honest...
    I really, truly hope you're joking. It's an obvious bubble.
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    ounce of gold (though it's high it should still appreciate a bit), or many, many ounces of silver (being kept artificially low, it's meant to rise significantly in the near future)
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    Make it grow? Buy some rare plant seeds. Plant them. Viola.
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    (Original post by MrHayden)
    I recently ran into a bit of money and spent a few months trying to come up with something good to do with it, until I realised that I'd managed to bloody drink it all. If you really want to guarantee growth in it, buy gold. It's the only thing that you can rely on to retain value with any sensible degree of certainty. I'm not an economic expert, but the way things seem to be at the moment the best thing to do for everyone is for you to spend which helps growth, instead of hording the money away which is one of the economy's problems currently. I think we should just trade in gold to be honest...
    http://upload.wikimedia.org/wikipedi...ice_in_USD.png

    Hardly "guaranteed growth" is it?
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    holidaaaaaaaaaaaaaay!!!!
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    spend it... might as well have some fun with it
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    (Original post by electriic_ink)
    http://upload.wikimedia.org/wikipedi...ice_in_USD.png

    Hardly "guaranteed growth" is it?
    Point noted, appreciated, and addressed!
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    Spend it on a prostitute.
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    (Original post by kaddiescandy)
    So basically I managed to save up £1400 and dont know what to do with it. At the moment its pretty useless! I want to do something that will make it grow! :P (with least effort on my behalf! )

    Any suggestions?

    What would you do with the money?
    Putting aside all the silly suggestions, presumably it boils down to this - are there things you definitely and truly need now? If not, then saving is the correct answer, so the question goes to which type of savings account is right. The answer there for smaller sums is always an ISA.

    Are there things you truly need to buy now?
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    (Original post by UCLEmily)
    Putting aside all the silly suggestions, presumably it boils down to this - are there things you definitely and truly need now? If not, then saving is the correct answer, so the question goes to which type of savings account is right. The answer there for smaller sums is always an ISA.

    Are there things you truly need to buy now?
    how much would £1400 get me? I dont really know how ISA works!
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    (Original post by MrHayden)
    I recently ran into a bit of money and spent a few months trying to come up with something good to do with it, until I realised that I'd managed to bloody drink it all. If you really want to guarantee a degree of stability and potential growth, buy gold. It's the only thing that you can rely on to retain value with any amount of certainty. I'm not an economic expert, but the way things seem to be at the moment the best thing to do for everyone is for you to spend which helps growth, instead of hording the money away which is one of the economy's problems currently. I think we should just trade in gold to be honest...
    Why on earth would you invest in gold and just watch all the associated costs eat away your investment.
    OP just put it in an ISA with the best interest rate you can find, £1000 isn't enough to do any serious work for you on the stock market or in bonds. Might as well keep it tax free and earing as much interest as it can get.

    To summarise:

    -Not enough money to work for you on the stock market, or for it to be worth all the trading costs involved
    -Keeping it in a normal bank account will have it eaten into by inflation.
    -Gold is a poor choice unless you are buying a lot of it and have a lot of money to offset the associated costs.

    Best thing to do is sling it in an Individual Savings Account (ISA) with the highest interest rate you can find, and start saving even more money until you get to a better sum you can work with.
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    (Original post by kaddiescandy)
    how much would £1400 get me? I dont really know how ISA works!
    It's not a "purchase" as such, just a savings scheme. You can start with small amounts. £1400 won't to be fair net loads of money annually - rates are low at the moment, but ISAs are tax-free, so at least there are no deductions on the interest. The best rates you can get at the mo are about 3.5%, so doing the maths, that comes out at about £50 a year interest - of course, if you leave it in there and don't touch the money, it will compound up over the years and gradually and then rapidly grow over time.

    There are loads of website guides to ISAs but probably one of the better ones is Money Supermarket cash ISA comparison page.

    http://www.moneysupermarket.com/savings/cash-isas/
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    (Original post by Skarm)
    Why on earth would you invest in gold and just watch inflation eat away your investment.
    OP just put it in an ISA with the best interest rate you can find, £1000 isn't enough to do any serious work for you on the stock market or in bonds. Might as well keep it tax free and earing as much interest as it can get.
    how much would £1400 get me? I dont really know how ISA works!
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    Just put it in the bank.

    I don't know what an ISA is...
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    Take pictures of it and put them on facebook, because im a 'bad man'
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    (Original post by xbethany)
    Just put it in the bank.

    I don't know what an ISA is...
    This
 
 
 
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