£200

Aegis

Pendle_Gazza wrote: »

What?!!! The impression I got was that this money was only to be saved through to next May, so that's what my answer was based upon. What was the point suggesting anything different?!

Sorry, misread in the morning. I thought you said "current account". My bad!

a7man

Deleted_User wrote: »

About as helpful as a chocolate fireguard! Not to mention rude.

Please substantiate why "putting £200 into a fixed rate bond is just dumb."

You will be putting £200 away for a fixed period where you cant touch it, might as well put it in a savings account or an ISA. The way the first post was written was to say that she wants to make a lot of money, well I dont know many people that consider £5 a lot of money.

Reaper

As you say the amount and the period of saving is too small to make much difference where it is put. The only benefit of a 6 month fix is that it means there is no temptation to spend it between now and the wedding.

As for calling other people's suggestions dumb - I think you have to be careful when your own suggestion for what to do with money earmarked for a honeymoon was this!

a7man wrote: »

Go to the casino and put it on red or black

KTF

What is happening with the rest of the money? Has that already been put in a suitable account?

Why not put it all in a high rate instant access account then take then £200 out when needed?

a7man

Reaper wrote: »

As you say the amount and the period of saving is too small to make much difference where it is put. The only benefit of a 6 month fix is that it means there is no temptation to spend it between now and the wedding.

As for calling other people's suggestions dumb - I think you have to be careful when your own suggestion for what to do with money earmarked for a honeymoon was this!

I was being sarcastic as the only way to make a lot of money from £200 is to gamble it.

amistupid

Jem8472 wrote: »

Im getting married next may and for my honeymoon i would like to treat myself and by a nice new wardrobe of clothes
I want to take £200 of this money and invest in somewhere which is going to make me a nice amount of interest in the next 6 months or so.

Carla, in this current financial climate I think you'll be lucky to make enough
to buy a pair of Primark socks!

tirlittan

Personally I think £5 in interest is better than nothing.I have the same problem myself atm. The money I want to save for a certain period will not give me much profit, but every penny helps!

stormCat99

Hope I won't get flamed for suggesting this on the Savings board, but with £200 to start, you're in a decent position to start Matched Betting. In 6 months you could make a nice profit from it.

Before you dismiss it, please be aware that although it contains the word 'betting' there is no actual 'gambling' involved. There is a whole board dedicated to this on MSE, if you're feeling nosy go over and take a look. There are some very knowledgeable people over there, and some great introductory guides:

http://forums.moneysavingexpert.com/forumdisplay.html?f=41

Just a suggestion! HTH.

jyonda

premium bonds -like buying 200 lottery tickets but you get your stake back. Really all you are losing is a pitiful amount of interest and the nsandi won't be going bust!

tara747

Jem8472 wrote: »

Hi there folks

Ok, there must be someone out there who can give me some good suggestions for this one.

Ive just had my birthday and got quite a nice sum of money. Im getting married next may and for my honeymoon i would like to treat myself and by a nice new wardrobe of clothes (somthing i dont get to do much anymore, so it will be a nice treat ).

I want to take £200 of this money and invest in somewhere which is going to make me a nice amount of interest in the next 6 months or so. I will not make any withdrawls from this money, it will stay put.

Where do you think at this current moment in time, is the best place for me to put it?

Any suggestions greatly recieved

Thank you

Carla (jem8472's gf)

Can I make another suggestion?

Can you take the whole sum you got for your birthday (not just the £200) and save it till closer to the wedding? Perhaps spend slightly less on your 'new wardrobe' so save even more? It will get you into the habit. Also, if you are going on honeymoon somewhere hot, you won't need many clothes apart from bikinis and sarongs etc!

I also agree with those who suggest building up a regular savings habit, it is addictive.

HTH