best way to invest £5000

bargaindoctor

hello and merry christmas! I am a 24 fresh graduate who just started working. I have currently saved up about £5000 in a savings account which is just sitting there, and I would like to make the most of this and wondering what I should do with it. I have never bothered because I didn't think much I could gain from this and that it's a gamble anyway to put it anywhere else.. I know if I continue to keep it there I might start withdrawing it and spending it (have already spent a bit)

I assume sticking £3k into an ISA to start with would be a good idea even though I haven't properly done the math or understand how it works here in the UK (not originally from here) with taxes since isn't it tax on interest (as my job already taxed me) so with a savings account and £5000 I don't think it will make that much difference?

I have a couple of ideas with what to do with this:
1. Invest in a diversed stock portfolio.. maybe get an independent financial advisor on the issue
2. Buy property abroad after loaning mortgage, in places I know a few things about
3. Start my own business (which I am interested in)
4. Start playing poker

Would love to hear any advice on this from people who've once been where I am on how I can make my money work for me.

cheers!

Dan29

bargaindoctor wrote:

4. Start playing poker

I'm assuming you're joking with that comment

However if you have a couple of hours a day spare you could double your money in the next 6 months or so, risk-free, by matched betting - head over to the Gambling Introductory Offer Loopholes board if you want to find out more.

Then if you did decide to pursue one of the other options, you'd have a better start-up fund, at least.

bargaindoctor

thanks dan. actually i have thought about matched betting and stoozing.... but gotta learn more first!! thanks again!