Have £500 to invest

GetRealBabe

Hi

Where's the best place to invest £500?

Thanks

GRB.

twizzel

Some basic questions first....

1. Do you really mean invest (e.g. shares etc), or save (e.g. building society/bank account) ?
2. Are you prepared to risk losing some of the capital ?
3. Do you need easy access to the funds ?
4. If not, how long are you prepared to tie the money up for ?
5. Do you have any ISA's already ?
6. Are you a tax payer ?

Ian.

cashbackproblems

BY invest if you mean not just stick it in a savings account earning 50p per month, then i'd put it in an AIM oil/exploration company and hope to double your money in a short space of time, check out www.iii.co.uk -> sharedealing.

Otherwise its really not alot so id just use it to spend on yourself!

GetRealBabe

twizzel wrote: »

Some basic questions first....

1. Do you really mean invest (e.g. shares etc), or save (e.g. building society/bank account) ?
2. Are you prepared to risk losing some of the capital ?
3. Do you need easy access to the funds ?
4. If not, how long are you prepared to tie the money up for ?
5. Do you have any ISA's already ?
6. Are you a tax payer ?

Ian.

Hi

I mean save. At the moment it's earning pathetic interest in a Alliance Leicester Plus Save account.

A little bit of risk is ok

Don't easy access.

A maximum of 3 years

Already used up my ISA allowance.

I am a tax payer.



Thanks.

GRB

saveumcowboy

cashbackproblems wrote: »

Otherwise its really not alot so id just use it to spend on yourself!

I don't think that this is very helpful advice. People have to start their savings somewhere, £500 may not be a huge sum but it is still £500. The OP may be glad that they had £500 put away for a rainy day if their pet got ill/an appliance broke down, something like that.

northwest1965

saveumcowboy wrote: »

I don't think that this is very helpful advice. People have to start their savings somewhere, £500 may not be a huge sum but it is still £500. The OP may be glad that they had £500 put away for a rainy day if their pet got ill/an appliance broke down, something like that.

I agree. Who's your current account with? A&L, Abbey paying 6% for one year on their Premier Current A/c

GetRealBabe

northwest1965 wrote: »

I agree. Who's your current account with? A&L, Abbey paying 6% for one year on their Premier Current A/c

Hi

Thanks. I'll check that out.

GRB.