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Investing for University return

RedLichtie_2
Posts: 23 Forumite
Hello,
I am seriously considering a return to university to study a one-year course starting in September. I am hoping to save and invest enough over the next 6 months to see me through my course.
At the moment, I have 2 years worth of money in an RBS instant access ISA... and it looks that out of the £7200 I have saved I have only accrued £9! Is this correct?!
To generate better returns (specifically over the next 6 months) what type of investment would be best to look at? Surely the £9 return is absolutely pathetic! I have a pension fund that is invested at a few high-risk managed funds (I'm 26 yo) - would these types of fund be suitable for quick returns?
Many thanks!
I am seriously considering a return to university to study a one-year course starting in September. I am hoping to save and invest enough over the next 6 months to see me through my course.
At the moment, I have 2 years worth of money in an RBS instant access ISA... and it looks that out of the £7200 I have saved I have only accrued £9! Is this correct?!
To generate better returns (specifically over the next 6 months) what type of investment would be best to look at? Surely the £9 return is absolutely pathetic! I have a pension fund that is invested at a few high-risk managed funds (I'm 26 yo) - would these types of fund be suitable for quick returns?
Many thanks!
0
Comments
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High risk high reward, but this is for long-term. Short-term you should stick with savings. Higher risk funds are very volatile so you can give it a go and sell when you are happy, but this is not guaranteed. You could put your money in and lose 50% over the period from now until education course.
IMO, you're not a stockbroker, stick to savings.
You can transfer your ISAs to a better paying one.0 -
RedLichtie wrote: »I am seriously considering a return to university to study a one-year course starting in September. I am hoping to save and invest enough over the next 6 months to see me through my course.At the moment, I have 2 years worth of money in an RBS instant access ISA... and it looks that out of the £7200 I have saved I have only accrued £9! Is this correct?!To generate better returns (specifically over the next 6 months) what type of investment would be best to look at? Surely the £9 return is absolutely pathetic! I have a pension fund that is invested at a few high-risk managed funds (I'm 26 yo) - would these types of fund be suitable for quick returns?
If you were looking 10 years ahead, then yes. But if you want to turn £7,209 in to £5,209 within 6 months, the funds suggestion should help you achieve this!
As you're looking 6 months ahead I'd stick to savings accounts. Use www.moneyfacts.co.uk to identify the most appropriate accounts for:
- easy access (e.g. The AA at 3.15%)
- regular savings (e.g. Barclays at 4.25%, with maturity of funds next January)
- cash ISA (e.g. IF at 2.5%, and there are probably better ones)
Good luck!0
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