What to do with 300 pounds
Discussion
So I know this isn't a huge amount of money in the grand scheme of things but I have a small sum of money I don't really need at the moment.
Situation is I'm nearing the end of uni, and am thinking of doing a masters next year. I've paid all my rent for the next few months and have a weekly income which covers all of my out goings so I don't need it in the near future for anything.
I'm thinking of doing the masters so will need a bit of money to help through another year of uni so was looking at starting to save properly over the summer with a job. Now I'm wanting to get the savings started while I have a bit of a lump sump.
WHat would peoples recommendations be? I would like to maximise the profit made on it.
So far I've thought of buying some more shares, Have been dabbling a bit in the last year but I only afforded 350 pounds and with it spread out the fees are crippling my profits, up to about 375 now but have spent another 50 or so on fees. Was thinking of adding some BP shares to my list, they're having dividends soon but I think I would be too late for these. And with the fees for buying more shares I would still be relying on the share rising a bit to cover me after the fees.
Looked at Spread betting but seems a bit too risky as I'm still pretty much a novice.
Have got the summer break coming up so I quite fancy the fun of a little project, buying and selling on ebay, or buying cheap cars and fixing them up, am pretty handy with the spanners and have suceeded in this in the past.
Any other suggestions?
Situation is I'm nearing the end of uni, and am thinking of doing a masters next year. I've paid all my rent for the next few months and have a weekly income which covers all of my out goings so I don't need it in the near future for anything.
I'm thinking of doing the masters so will need a bit of money to help through another year of uni so was looking at starting to save properly over the summer with a job. Now I'm wanting to get the savings started while I have a bit of a lump sump.
WHat would peoples recommendations be? I would like to maximise the profit made on it.
So far I've thought of buying some more shares, Have been dabbling a bit in the last year but I only afforded 350 pounds and with it spread out the fees are crippling my profits, up to about 375 now but have spent another 50 or so on fees. Was thinking of adding some BP shares to my list, they're having dividends soon but I think I would be too late for these. And with the fees for buying more shares I would still be relying on the share rising a bit to cover me after the fees.
Looked at Spread betting but seems a bit too risky as I'm still pretty much a novice.
Have got the summer break coming up so I quite fancy the fun of a little project, buying and selling on ebay, or buying cheap cars and fixing them up, am pretty handy with the spanners and have suceeded in this in the past.
Any other suggestions?
The_Doc said:
Stevenj214 said:
Matched Betting
oh dear.now that's pushing Learn a language, Write a website and Talk to the wife more, out of my brain.
if only I had the time.....
Still, I walked away with close to £1,000.
The record on the MSE forum is over £20k over 3 years I think (that level would require a lot of time commitment though!)
K87 said:
SimonV8ster said:
300 quid of premium bonds ? No risk and a chance of winning something.
I was reading something though that the chances of actually winning anything is very slim, and if I leave it in for a long time would be better to go for the interest.http://www.moneysavingexpert.com/savings/premium-b...
Join quidco.
Clear all of your cookies and join each gambling site. Use the £300 to make the minimum bets/deposits to earn the cashback (read the instructions very carefully). Blackjack gives you a slim chance of beating the house - but only pick the sites where the cashback is higher than the amount you need to gamble, in case you lose it all.
Cash out of the gambling site as soon as you have reached the cashback requirement (or are significantly 'up' - which ever comes FIRST).
Its a one hit job, but you can make a few quid. I think I made about £320 profit on Monday, just bored at home. It would have been more if I'd followed my rule about cashing out but I had a play as well so lost maybe another £140.
Clear all of your cookies and join each gambling site. Use the £300 to make the minimum bets/deposits to earn the cashback (read the instructions very carefully). Blackjack gives you a slim chance of beating the house - but only pick the sites where the cashback is higher than the amount you need to gamble, in case you lose it all.
Cash out of the gambling site as soon as you have reached the cashback requirement (or are significantly 'up' - which ever comes FIRST).
Its a one hit job, but you can make a few quid. I think I made about £320 profit on Monday, just bored at home. It would have been more if I'd followed my rule about cashing out but I had a play as well so lost maybe another £140.
Go directly to your nearest Casino.
Change your £300 into 3 x £100 chips.
Walk directly to the roulette table.
Place all 3 on black.
Go to the bar and have a beer.
Return to the table to find that you now have either £0 or £600.
Leave or cash you £600 and then leave.
Once in your life you have to do this.
Change your £300 into 3 x £100 chips.
Walk directly to the roulette table.
Place all 3 on black.
Go to the bar and have a beer.
Return to the table to find that you now have either £0 or £600.
Leave or cash you £600 and then leave.
Once in your life you have to do this.
Maxf said:
Join quidco.
Clear all of your cookies and join each gambling site. Use the £300 to make the minimum bets/deposits to earn the cashback (read the instructions very carefully). Blackjack gives you a slim chance of beating the house - but only pick the sites where the cashback is higher than the amount you need to gamble, in case you lose it all.
Cash out of the gambling site as soon as you have reached the cashback requirement (or are significantly 'up' - which ever comes FIRST).
Its a one hit job, but you can make a few quid. I think I made about £320 profit on Monday, just bored at home. It would have been more if I'd followed my rule about cashing out but I had a play as well so lost maybe another £140.
Just had a quick look at this,Clear all of your cookies and join each gambling site. Use the £300 to make the minimum bets/deposits to earn the cashback (read the instructions very carefully). Blackjack gives you a slim chance of beating the house - but only pick the sites where the cashback is higher than the amount you need to gamble, in case you lose it all.
Cash out of the gambling site as soon as you have reached the cashback requirement (or are significantly 'up' - which ever comes FIRST).
Its a one hit job, but you can make a few quid. I think I made about £320 profit on Monday, just bored at home. It would have been more if I'd followed my rule about cashing out but I had a play as well so lost maybe another £140.
Foun an example with ladbrooks, they offer £50 cashback for £50 gambled. So am I right in thinking if I put a £50 bet on, I get the £50 cashback, plus whatever happens with the bet I made. Either way I break even?
K87 said:
Maxf said:
Join quidco.
Clear all of your cookies and join each gambling site. Use the £300 to make the minimum bets/deposits to earn the cashback (read the instructions very carefully). Blackjack gives you a slim chance of beating the house - but only pick the sites where the cashback is higher than the amount you need to gamble, in case you lose it all.
Cash out of the gambling site as soon as you have reached the cashback requirement (or are significantly 'up' - which ever comes FIRST).
Its a one hit job, but you can make a few quid. I think I made about £320 profit on Monday, just bored at home. It would have been more if I'd followed my rule about cashing out but I had a play as well so lost maybe another £140.
Just had a quick look at this,Clear all of your cookies and join each gambling site. Use the £300 to make the minimum bets/deposits to earn the cashback (read the instructions very carefully). Blackjack gives you a slim chance of beating the house - but only pick the sites where the cashback is higher than the amount you need to gamble, in case you lose it all.
Cash out of the gambling site as soon as you have reached the cashback requirement (or are significantly 'up' - which ever comes FIRST).
Its a one hit job, but you can make a few quid. I think I made about £320 profit on Monday, just bored at home. It would have been more if I'd followed my rule about cashing out but I had a play as well so lost maybe another £140.
Foun an example with ladbrooks, they offer £50 cashback for £50 gambled. So am I right in thinking if I put a £50 bet on, I get the £50 cashback, plus whatever happens with the bet I made. Either way I break even?
In your scenario, you "bet" £50 on ladbrokes and "lay" the bet on a site like BetFair. This results in a small loss whatever happens, but you have the £50 free bet.
You then "bet" the free £50 on ladbrokes and once again "lay" the bet on betfair. This results in another small loss whatever happens. However the £50 free bet didn't cost you anything.
Your "profit" is then £50 free bet minus 2 x small losses = around £40
If you are interested in Matched Betting, make sure you do your homework. It's easy to make a mistake and turn your matched bets into gambles.
There are some risks involved, mostly around the different t&c's of sites, but on the whole if you understand exactly what you are doing, they are minimal.
ETA: Just realised the question was on cashbag bagging, not matched betting. Doh! Ignore what i've said above.
Edited by Stevenj214 on Thursday 6th May 13:33
K87 said:
So it sounds like the most profitable solution would be to combine the quidco idea with the matched betting idea?
Yes, although again - watch out for the T&C's. If your Ladbrokes example was also offering a free bet, they may not give you the sign up bonus and the quidco cashback!Gassing Station | Finance | Top of Page | What's New | My Stuff