I have £2000, What can I do with it to make money?

SammyS1987

As above really, I have the money sitting in an ISA at the moment which I have saved for when I go travelling next year. Or if I can find an idea good enough I could use it now to make more money. Thing is I have no idea what to do! All suggestions welcome.

Darren09

In the current market the best advise I can give you is to hold on your cash. Unless you have an amazing idea the best place for your cash is your pocket.

Skint_student_4

i had £200 and brought barcleys shares , well my dad did with the money, at around £1.08 a share, they are now worth £3.73 a share, wish i brought more. At there lowest they were 50p a share!!

At the time everyone told me not to invest because these where my savings not a lot but i am a student with no job at this point,. However, this was at the start of the recession when it was all doom and gloom. But i did it and it has paid off, i am not going to sell them yet though because they are only going to rise.

I invested after a lot of research, my dad buys a lot of shares etc. He brought barcleys shares at around £6 last year lol!

Anyway i would not put the whole £2000 pounds into an investment maybe just put in a couple of hundred. If you are going to buy shares a sound investment are things that are always needed and are 'precious' such as oil, gold etc. But then i really don't know too much so do your research before hand!!!

save-a-lot

With £2K, keep it in the ISA if you need it for travelling next year. When next year? if you invest in whatever, you may hit a situation where you have not achieved a profit and will be forced to sell at a loss. I have shares that I am holding because of losses that I am simply holding until they come good or break even again (I have had some for around 2 years that I will make big losses on). Since your needs are short term, keep it as cash.

Alternatively if you have a business idea, or similar and you do not mind risking the money then that is an option.

I suppose the best advice is, do not let the £2K burn a hole in your pocket.. personally, I would hold it tight in the ISA until needed.

SammyS1987

Thanks to all, I'll think I'll just leave it in my ISA earning interest for now.

sammyjenks

If you do decide to invest it, find out about the topic yourself. Don't trust some firm or system to do it for you. Find out what works, why it works, and how it's worked in the past. That's all I can say.

Always100FC

sammyjenks wrote: »

If you do decide to invest it, find out about the topic yourself. Don't trust some firm or system to do it for you. Find out what works, why it works, and how it's worked in the past. That's all I can say.

Never was a truer word spoken.

I'm all for helping people, but first you have to be willing to help yourself!

xannus

I would stick it in a 2 year bond or ISA bond, much much better interest than a normal ISA, but thats because I wouldn't buy shares or anything like that...

save-a-lot

xannus wrote: »

I would stick it in a 2 year bond or ISA bond, much much better interest than a normal ISA, but thats because I wouldn't buy shares or anything like that...

Hi

Good advice, but the OP needs to get at the money next year

FTB77

If the op is sensible then get matched betting for a year, can make £5000 before the year's out.

if not sensible then stick it in the bank and think of how lucky you are in this day and age!

SammyS1987

Just been reading up all morning about matched betting, Sounds like an interesting idea. Might give it a go with £50 and see how I get on.