Money makes Money...
Money makes Money...
Author
Discussion

I Love Lamp

Original Poster:

2,664 posts

191 months

Thursday 2nd September 2010
quotequote all
I now have an additional £800 per month to invest (or save).

Do I:

a) Put it towards a new business venture, starting off as a 'bit on the side' (whilst doing everything correctly and 'to the book'.

b) Save up for a few months, invest in some form of start up

c) Gamble on shares

d) Savings

e) Other (??)

I currently have no mortgage or debt, so paying this off is not an option.

ETA: I appreciate this isn't a vast amount to save / invest, though it's a starting point. I have no other source of funds to act as a 'deposit', this is effectively a new branch off.

Edited by I Love Lamp on Thursday 2nd September 16:10

michael_JCWS

865 posts

272 months

Thursday 2nd September 2010
quotequote all
my take would be an ISA FTSE 100 tracker, bit borring, but in a few years time

ShadownINja

78,698 posts

298 months

Thursday 2nd September 2010
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(a) sounds the best option. Never know, in a few years' time you might be able to tell your boss where to stick his job (assuming you're not self-employed already).

ccr32

1,983 posts

234 months

Friday 3rd September 2010
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A little bit of info on FTSE trackers - seeing as I googled it after reading the above posts, thought i'd share:

http://forums.moneysavingexpert.com/showthread.php...

ringram

14,701 posts

264 months

Monday 6th September 2010
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depending on what your self employment business venture is, that potentially will give the best reward

ymwoods

2,193 posts

193 months

Monday 6th September 2010
quotequote all
I would build up some savings first and then invest into a business venture. A business venture is going to be where you make the most returns though but remember that this also comes with risk so the savings will be there to cover this.

ringram

14,701 posts

264 months

Monday 6th September 2010
quotequote all
doesn't sound a very entrepreneurial way of going about it

ShadownINja

78,698 posts

298 months

Monday 6th September 2010
quotequote all
ringram said:
doesn't sound a very entrepreneurial way of going about it
hehe

Sideways Rich

1,110 posts

193 months

Monday 6th September 2010
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currently in a similar situation where I have no (UK) mortgage, and am saving £2.5k per month (more in months where I receive commission) towards a house deposit, I also have savings and some property (outside of the UK). Up until this point I have "invested" and I use the term loosely with mixed success in property. I'm now keen to understand more about investing in shares etc so have started to read a few books to understand the principles. What I could really do with is a session with a decent financial adviser to make me aware of my options and to become a little wiser in making my money sweat a little harder.

Does anyone on here do this for a living?

Pferdestarke

7,191 posts

203 months

Sideways Rich

1,110 posts

193 months

Monday 6th September 2010
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Pferdestarke said:
I asked for that! smile I meant are there any qualified financial advisors on PH?

Sideways Rich

1,110 posts

193 months

Sunday 12th September 2010
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No IFA's on PH then???