Bit of spare money - what to do with it?
Bit of spare money - what to do with it?
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Discussion

43034

Original Poster:

2,971 posts

198 months

Wednesday 31st July 2013
quotequote all
Afternoon all,

I have around £500 just sitting around in Premium Bonds (gift for my 18th last year). Not earnt a penny from them (I know £500 over 15 months isn't going to make me loads) but I feel I could put that £500 elsewhere, better spent so to speak.

The problem is, is that I have no idea what to do it. I don't really want to withdraw it just to put it in my ISA as that'd be pointless.

I understand £500 isn't a shed load in the real world but there must be something I can do with it, surely?

Any input appreciated.

Many thanks smile

BoRED S2upid

21,072 posts

270 months

Wednesday 31st July 2013
quotequote all
What do you want to happen to it? increase it quickly, get a better return than premium bonds, long term, short term, risk, no risk etc...

43034

Original Poster:

2,971 posts

198 months

Wednesday 31st July 2013
quotequote all
Not a quick return, no rush. Risk or no risk, i'm not all that bothered, it's £500 I've never really had nor seen as it's gone straight from my parents to premium bonds.


I'm open to all options to be perfectly honest, it's just that I don't know what my options are!

Thanks for the reply though smile

DocArbathnot

29,047 posts

213 months

Wednesday 31st July 2013
quotequote all
Current interest rates would return you £10 p.a. with no risk.


You might as well leave it in premium bonds. £10 p.a. is not really worth bothering with and you may just get a jackpot.

Centurion07

10,395 posts

277 months

Wednesday 31st July 2013
quotequote all
43034 said:
Risk or no risk, i'm not all that bothered....
Why are you still here and not down the casino right now in that case? tongue out

BE57 TOY

2,628 posts

177 months

Wednesday 31st July 2013
quotequote all
Double down at the casino if you're not risk adverse!

43034

Original Poster:

2,971 posts

198 months

Wednesday 31st July 2013
quotequote all
hehe

Cheers guys. I'd rather lose my £500 over 5 years than in 2 seconds smile

Premium Bonds it is then!

smckeown

303 posts

275 months

Thursday 1st August 2013
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Setup a monthly DD of at least £100 a month to NS & I and forget about it.
Sean

Lotusevoraboy

937 posts

177 months

Thursday 1st August 2013
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Get your money out, buy an old sports car e.g. MX5, MGF, tart it up, sell it on, or throw a cover over it and forget all about it...value can only go up.

BE57 TOY

2,628 posts

177 months

Friday 2nd August 2013
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I put as much money into ISAs as I can each year, currently earning £60ish per month in interest. You have to start somewhere. That's what I think you should do!

ringram

14,702 posts

278 months

Friday 2nd August 2013
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Beaten down european blue chips in an ISA...