How do I use £6000 I've saved...

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Anonymous #1
#1
Report Thread starter 5 years ago
#1
Okay so I'm 16 and have over £6000 saved up, if you are wondering how, I've been working since I was 12/13 every weekend, and hardly spent it, expect for food, so now I've got £6000 and I need to know how to use it?

And sorry I can't give it to you lol.
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Katty3
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#2
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(Original post by Anonymous)
Okay so I'm 16 and have over £6000 saved up, if you are wondering how, I've been working since I was 12/13 every weekend, and hardly spent it, expect for food, so now I've got £6000 and I need to know how to use it?

And sorry I can't give it to you lol.
Save it. Soon enough, you'll have enough for a down payment on a house.

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username334839
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#3
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ISA? (individual savings account)
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the terminator
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#4
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#4
Do you HAVE to use it? Cant it just be left there for a time when you REALLY need it?
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Castro Saint
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#5
hookers and blow
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Anonymous #1
#6
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(Original post by the terminator)
Do you HAVE to use it? Cant it just be left there for a time when you REALLY need it?


no i guess not

(Original post by Katty3)
Save it. Soon enough, you'll have enough for a down payment on a house.

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i'm not interested in that yet but thanks
(Original post by Cravez)
ISA? (individual savings account)
i dont trust banks lol
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Nununu
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#7
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You'll need it at uni!
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sw651
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#8
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(Original post by Anonymous)
Okay so I'm 16 and have over £6000 saved up, if you are wondering how, I've been working since I was 12/13 every weekend, and hardly spent it, expect for food, so now I've got £6000 and I need to know how to use it?

And sorry I can't give it to you lol.
I saw below that you don't trust banks, good luck with life.
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gwagon
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#9
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#9
Short sell.
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Tootles
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#10
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(Original post by Anonymous)
Okay so I'm 16 and have over £6000 saved up, if you are wondering how, I've been working since I was 12/13 every weekend, and hardly spent it, expect for food, so now I've got £6000 and I need to know how to use it?

And sorry I can't give it to you lol.
Put it into an ISA, if you can.

Seriously, don't spend it. Weigh your options and put it into a high-interest bank account and let it accumulate interest.
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Simonthegreat
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Safe bet is to put in an isa although interest rates are appalling. It really depends on your outlook to life and what you want to do. If you don't mind a bit of risk ask soemone to help you invest in stocks and shares . However, you must remember that they can go down as well as up. But the returns can be good. Speak to your parents and see what they advise you. They know you best.

If you are planning on going to uni then don't risk your money. You will need to dip into your savings from time to time. Good luck with whatever you decide.
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CloakedSpartan
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(Original post by Anonymous)
i dont trust banks lol
What, because you don't understand how banks work and think you'll somehow lose it if another financial crash happens? Not what happens mate.
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sw651
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#13
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(Original post by CloakedSpartan)
What, because you don't understand how banks work and think you'll somehow lose it if another financial crash happens? Not what happens mate.
Explain financial protection to him, its easier
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CloakedSpartan
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#14
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(Original post by sw651)
Explain financial protection to him, its easier
Sure, no need to explain it fully though.

If the bank you have your £6k really goes under mate (unlikely), it's protected anyway and you can be reimbursed. The limit for that is much higher than £6k.
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jamesthehustler
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#15
(Original post by Anonymous)
Okay so I'm 16 and have over £6000 saved up, if you are wondering how, I've been working since I was 12/13 every weekend, and hardly spent it, expect for food, so now I've got £6000 and I need to know how to use it?

And sorry I can't give it to you lol.
i'll tell you a method to make more
http://www.faberge.com/products/846_...ndant_0_0.aspx this is an £8,500 piece from faberge
http://www.ebay.com/itm/301825824622...%3AMEBIDX%3AIT this is the same thing but pre-owned for £1,500
you could buy the bottom one and make an easy £1,500-£2,500 just selling it to the trade let alone what a collector might pay is even more
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Dancatpro
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#16
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#16
(Original post by Anonymous)
no i guess not


i'm not interested in that yet but thanks

i dont trust banks lol
You're ****ed if you don't trust banks, completely and utterly ****ed
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alexschmalex
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#17
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#17
Give it to me, I'm a Nigerian prince who can invest your money in some prime real estate
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Plagioclase
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#18
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#18
(Original post by Anonymous)
Okay so I'm 16 and have over £6000 saved up, if you are wondering how, I've been working since I was 12/13 every weekend, and hardly spent it, expect for food, so now I've got £6000 and I need to know how to use it?

And sorry I can't give it to you lol.
I'd go travelling!
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Ekno
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#19
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#19
Travel far and wide! Go interrailing or tour a continent
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TurboCretin
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#20
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#20
(Original post by Anonymous)
i dont trust banks lol
So...where's your money at the moment?
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