£100 per month in premium bonds ?

Alex92_2

jimjames wrote: »

Not sure I agree with that, you need to start somewhere and even £100 per month will build up inside an ISA if regularly invested every month.

Very true, but personally, to me I really dont think it would be worth all the hassle. Would be better off buying cheap items from bootsales etc if you have an eye for it and selling on ebay and making profit. I could easily turn £100 into £500 within 4-6 weeks by doing this. Then use that £500 to buy 5x£100 items and do it again, then it snowballs. See my £500 challenge thread.

marathonic

Alex92 wrote: »

Very true, but personally, to me I really dont think it would be worth all the hassle. Would be better off buying cheap items from bootsales etc if you have an eye for it and selling on ebay and making profit. I could easily turn £100 into £500 within 4-6 weeks by doing this. Then use that £500 to buy 5x£100 items and do it again, then it snowballs. See my £500 challenge thread.

So you don't want the hassle of setting up an ISA - which I done through Tesco in 10 minutes last night - and, therefore, advice going to car boot sales and purchasing items for resale on eBay :shocked:

bigfreddiel

Alex92 wrote: »

Very true, but personally, to me I really dont think it would be worth all the hassle. Would be better off buying cheap items from bootsales etc if you have an eye for it and selling on ebay and making profit. I could easily turn £100 into £500 within 4-6 weeks by doing this. Then use that £500 to buy 5x£100 items and do it again, then it snowballs. See my £500 challenge thread.

funniest thing i've read ever

:rotfl::rotfl::rotfl::T:rotfl::rotfl::rotfl::T:rotfl::rotfl::rotfl:

bigfreddiel

bigadaj wrote: »

Surely you've missed the most important element, avoid IFAs and as much of the financial industry as you can!

altho i thanked you i thought this said don't use an ifa

"now, one other point - the vanguard lifestrategy funds aren't available on all platforms - you need to find out first - i use td directinvesting "

and i agree avoid ifa's like the plague

just my opinion but if you're feeling flush pay them £300/hr+ and 5% every year plus vat - its your life mate and your money

and don't worry loads of ifas will correct my figures above and explain how much better off you'll be with their advice

fj

atush

bigfreddiel wrote: »

£100/month

okay this is what to do

1 stop buying pbs - hold onto what tou have - you ccould win £1m

2 have you got 6 month salary saved - if not do that

3 have you any debt (not mortgage) - pay it off

4 if you're on a fs pension pay it all into that

5 no pension - company one available - pay ino that

6 no company pension - open a sipp - lifestrategy 60% ACC fund

7 pensions okay, no debt, 6 month savings - ISA - lifestrategy 60% ACC

do this for the next 40 years and you'll be fine

see ya!

personal moment- I may have to shoot myself. As I think I may actuall agree to certain extent with the big fred.

fj

1- maybe dont just stop, but maybe sell some and put into other areas such as pensiomn/ISA

2- swtich 2/3

4/5-yes

6 -% of equities not agreed as we don't know enough

version2014

Thanks for the advice guys - Seems a S+S ISA is the way to go so far.

Any other ideas?

marathonic

Open an account with Quidco and go through them to Fidelity if you like.

They are giving £100 cashback if you invest £500 or more in a lump sum which can be done via debit card or cheque. You can then invest from £50 monthly via direct debit (or simply add funds when you are able via debit card).

It'll probably take 3-4 months before you receive the £100 cashback but the fund charges are really good - I invested in the FTSE All-Share this morning with a total expense ratio of 0.3%.

Put another way, the £100 cashback would cover the expenses on an investment of £10,000 for over 3 years.

You must open it by next week to be elegible for the cashback - but in funding it that soon, you'll be making use of some of this years allowance (which you lose otherwise).