Money to invest...

cam_mags

Hello!!

I'm a 20 year old student looking for some sound advice!!

I have about £1500 and basically i want to know what to do with it!

Should i simply put it into a savings account and hope the interest rate increases soon?

Or should I invest it? If so, into what?

Basically i want people's opinions on what is the best thing to do with this amount of money! (quite a lot to me, probably spare change to some people!!)

Buddy195

cam_mags wrote: »

Hello!!

I'm a 20 year old student looking for some sound advice!!

I have about £1500 and basically i want to know what to do with it!

Should i simply put it into a savings account and hope the interest rate increases soon?

Or should I invest it? If so, into what?

Basically i want people's opinions on what is the best thing to do with this amount of money! (quite a lot to me, probably spare change to some people!!)

Lots of research and invest in some decent shares that should give good returns over the coming years. Savings account rates are awful at present .

Paul_Herring

cam_mags wrote: »

I'm a 20 year old student looking for some sound advice!!

Advice is something you won't get here,

I have about £1500 and basically i want to know what to do with it!

If that's *all* you have, then I suggest that equity investments are not for you.

Sure you could get some shares, but if you need it in 6 months if the stock markets are even lower, and you need to cash them in...

Should i simply put it into a savings account and hope the interest rate increases soon?

If that's your sum total of savings, IMHO, yes. If you won't need it for 5,10,30 years, possibly no.

moana

We intend giving a nephew and a niece £1000 each.
Not a lot perhaps, but the intention is that they invest in UTs now that they have just completed university and that this investment is 'kept' until they retire, move it around as the markets move and their risk appetite changes .

I am going to suggest that they register on the Fidelity site read up a bit and decide on an initial UT to invest in.
Of course if they decide to splurge now or at sometime before retirement then that's their decision.
But I think they've got the sense to think about and do what I suggest.
Hopefully they will learn about investing and this will keep them in good stead until and after they retire.