Student 30k to invest

olivier81

Hi,

I have come into a bit of money and would like to consolidate my various accounts into a savings account and a fund or bond which will give me a good return on my 30k even if slightly risky.

Sorry if this is a bit long winded and not really relevant to savings but currently i have some money in a nationwide flex account which is practical since i can pay for things with it but gets almost no interest and thats pretty much it can i pop the money in there into a savings account which is also a debit card? And do you guys have any ideas of where to pop the 30k ive been looking at funds but im not sure how to go about investing in them,

many thanks

Lokolo

To buy funds you need a funds supermarket. I have used HL haven't found them to be a problem in the past. Other than the spam they send you in the post (which you can obviously opt out of). They are cheap as chips as well (but that may change in a couple of years).

If you have £30k you need to plan what you want the money to do and where to go. If you are going to invest, then you need to plan a portfolio

https://www.fidelity.co.uk/investor/guidance-planning/plan-portfolio/default.page?smid=fifzz6ea

You can do a simple one here.

Once you have a guide of what sort of portfolio you want, you can search for funds, Trustnet and Morningstar usually have good fund filters.

---

Thats the bit on funds. As for if you want funds or not, you need to tell us if you ask able to risk the money, what you want the money to do, whether you plan on using it as a deposit for a house in 5 years time or what.

---

There is a current account with Lloyds which pays 4% on balance between £5-7k. But it has to have £1k going through the account every month. You get a debit card with this.

olivier81

thanks the current account from lloyds seems great i want to keep it as simple as possible though how would you reccomend ensuring that 1k goes through the account every month?

CLAPTON

olivier81 wrote: »

Hi,

I have come into a bit of money and would like to consolidate my various accounts into a savings account and a fund or bond which will give me a good return on my 30k even if slightly risky.

Sorry if this is a bit long winded and not really relevant to savings but currently i have some money in a nationwide flex account which is practical since i can pay for things with it but gets almost no interest and thats pretty much it can i pop the money in there into a savings account which is also a debit card? And do you guys have any ideas of where to pop the 30k ive been looking at funds but im not sure how to go about investing in them,

many thanks

don't even consider 'investing' i.e. buying stocks and shares... if you had invested 10 years ago you would have lost some of your money.

so just save it for a deposit on a house in the future

if you are genuinely interested in stocks and shares then run a 'fantasy portfolio ' for a year or so and see how you get on

Bin_Boy

olivier81 wrote: »

thanks the current account from lloyds seems great i want to keep it as simple as possible though how would you reccomend ensuring that 1k goes through the account every month?

The relevant account is the Lloyds Classic current account with Vantage and you are able to have up to three of these current accounts.

The simplest way to ensure the £1,000 goes in would be to open two and set up a standing order for each so that the money cycles in an out of the main account once a month.

On these current accounts its worth noting that the amount of interest is dependant on the amount in the account e.g.
£1 - £999 = 0.1% AER
£1000 - £2999 = 2% AER
£3000 -£4999 = 3% AER
£5000 - £7000 = 4% AER
Anything above £7000 gets 0.1%

So its worth keeping an eye on how much is in each.

diable

Vice Shares ;o))))

olivier81

Bin_Boy wrote: »

The relevant account is the Lloyds Classic current account with Vantage and you are able to have up to three of these current accounts.

The simplest way to ensure the £1,000 goes in would be to open two and set up a standing order for each so that the money cycles in an out of the main account once a month.

On these current accounts its worth noting that the amount of interest is dependant on the amount in the account e.g.
£1 - £999 = 0.1% AER
£1000 - £2999 = 2% AER
£3000 -£4999 = 3% AER
£5000 - £7000 = 4% AER
Anything above £7000 gets 0.1%

So its worth keeping an eye on how much is in each.

So I could open 3 classic current accounts with vantage and put 7k in each of them and 8k in one of them. Then set up a standing order from the one with 8k to go into one of the others say on the 2nd of every month then on the 10th to go into the third then on the 17th to go back into the original one?
Also I cant seem to find anywhere how long this 4% lasts for is it just a one year bonus thing?

olivier81

is this the right idea? thanks

Lokolo

Thats correct.

It's not a bonus, its just an on going thing. They'll stop it at somepoint, we just don't know when.

Baz_2

lennychambers wrote: »

Learn on how to get the best stocks in the market now

---

276% gainers!

The spam on here is amazing....

D1zzy

olivier81 wrote: »

So I could open 3 classic current accounts with vantage and put 7k in each of them and 8k in one of them. Then set up a standing order from the one with 8k to go into one of the others say on the 2nd of every month then on the 10th to go into the third then on the 17th to go back into the original one?
Also I cant seem to find anywhere how long this 4% lasts for is it just a one year bonus thing?

Noooooooooooooooooo!:eek: You earn no interest over 7K!!

So open 3 with £7000 in each
Then in 1 login session move £1000 A>B>C>A (takes about 30 secs)

Don't forget to move out your interest each month to a savings account where it can earn more interest

4% lasts until they say its no more!