How to make money out of £500?

coinxoperated

Hello all!

I've recently had a tax rebate of £500. I wondering if the is any safe ways of making more money out of this? Even if it's just 50p. I just feel it's going to sit in savings and be used for something that actually I could do without for a little while.

Any ideas?

Thanks!

TerryTorque

Have you considered matched betting? I started with 500 and have made 2.5k so far. Take a look at the matched betting board on here, loads of good advice.

Ruby_Ruby

I was going to suggest MBing too, although you do have to be prepared to lose the lot, not that it's likely if you follow the rules and advice on the board. £500 is a nice sum to start with, and making £2.5 K in a few short months (or even sooner) is very realistic.


Go to the board and read the guide, several times.:D

coinxoperated

Matched betting is all a bit too complicated for me I'm afraid. I don't understand odds and I daren't gamble it on something I'm not sure about

Ruby_Ruby

I don't understand odds either, you don't need to, you just need to know what they are and the idea is NOT to gamble. Have a look at the guide.:)

HappyMJ

Again another vote for Matched Betting. £500 is a good pot to start with and you can very easily double that within a month...then double it again in another month..and double it again in 2 months. Takes a bit of work and understanding but it is very lucrative. On bonuses alone this last 2 months starting with £10 I have made well over £1,500 (as of today it's £1,930). To start with on the bingo side Ruby has a free £5 start and Winner has a free £10 start. Try them and if they fail then you haven't lost anything. Deposit more and it is very easy (in my opinion) to double it. The worst you can do if you play correctly is get your money back. Think cash back sites like Quidco and Topcashback. Unfortunately I can't tell you how do to it as there is a very small risk (2 out of 30 sites I have done have lost) and you may lose your stake and therefore my post will be deleted.

johnwww2

Is it legit?

OldGreyFox

The board is here

http://forums.moneysavingexpert.com/forumdisplay.php?f=41

Your gather from the preamble its not everybodys cup of tea.

lessonlearned

I fancy having a go at matched betting but I definitely wouldn't go in with £500 and risk it all.

Coin - my advice is not too put all your eggs in one basket. Split the money up and try a few different things to spread the risk.

I would put the bulk into something safe and then just a small amount into something high risk.

It depends what savings and investments you already have. I know interest rates aren't that great but I would put at least half into something like an ISA or the best savings account I could find. Then I would put say £100 into premium bonds - no interest of course but there's always a small chance you might win something. I would only gamble with about £50 to £100.

There's another way of looking at a windfall. You could invest in yourself. Is there a course you fancy doing.

I once invested a tax rebate in a beauty therapy course. I then had the training for a nice little sideline business which I ran alongside my normal day job.

How about a bit of wheeler dealing. Invest say £50 to £100 in items you can sell on at a profit. I do a bit of antique dealing and bric a brac selling at markets and antique fairs. Nothing expensive or ambitious and I can do well on a good day.

This last one may not make you money but how about using a small amount to treat yourself to something you've always wanted but have never been able to afford or felt you couldn't justify.

Now that my finances are a little healthier I make sure that I use birthday money from my parents to invest in something special. A piece of jewellery, a really nice ornament or painting.

I try to buy unusual one off pieces, usually by local artists and craftspeople. One day they may have some monetary value, then again they might not. Who knows they just might be the antiques of tomorrow.;)

In the meantime they are nice to own, they will be mementoes of my parents when they are no longer with us and they will be something to pass on to my children and grandchildren.

Just a few ideas. Anyway enjoy your little windfall.

bargainhunter2013_2

have you thought about buying £500 worth of a wholesale product and sell on ebay or amazon and make a profit? just an idea

theianfox

£500 is usually the minimum investment in a unit trust scheme. These are funds that deal in stocks and shares in large companies such as Glaxo, Shell etc. They spread the risk of investing by only holding a small percentage of the fund in one stock.

Most funds pay a dividend twice a year, at a rate usually better than it sitting in a savings account.

Historically they've never lost money in the long-term.