How to make money out of £500?

pcrosland

I dont understand this will check out the link.

StormyWeather_2

You could buy a few premium bonds. Low risk and potentially £0 return, but also potentially a £million return

[Deleted User]

From personal experience I'd advise you not to bother with Premium Bonds.

In happier, more solvent days I had the maximum £30,000 holding for about 6 years and in all that time won a total of 4 £50 prizes and 1 solitary £100. This was in the days of interest rates on normal savings accounts being a lot better than nowadays so I considered the P Bonds to have been something of a non-starter. Obviously, I didn't lose out as they could easily be cashed in and sold when I was in dire need of money more recently. But if I ever have funds to invest again it will certailnly NOT be in Premium Bonds!

Wywth

coinxoperated wrote: »

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!

Even at the abysmal rate of 0.1% p.a, you will earn 50p (before tax)

Lots of better paying accounts worth considering.

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest



Or pop the lot on a horse in the 3.30 @ Haydock

Hoody

Buy a petrol lawnmower/strimmer, some flyers and set up a small gardening business in your spare time. Probably the best return you could get?

tharsos

double post

tharsos

deleted post

agressoprox

Ruby_Ruby wrote: »

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

Holy....just a second, I've made £170 so far and as I run out of new customer deals I see me maxing out at about £600 before getting the odd deal here and there goning forward.

PLEASE tell me how you get 2.5k in a few months!!

patman99

OP, have you considered 'social lending' ?. Sites such as 'ZOPA' & 'Ratesetter' allow you to lend your cash to people with only a small amount of risk involved. My average return over the last 3 years with ZOPA has been 6.87%.

tharsos

patman99 wrote: »

OP, have you considered 'social lending' ?. Sites such as 'ZOPA' & 'Ratesetter' allow you to lend your cash to people with only a small amount of risk involved. My average return over the last 3 years with ZOPA has been 6.87%.

Are you ever afraid that the borrower will not pay up? Also, would you invest only money that you can afford to lose? I have a feeling the money I have is not invested the best way, so maybe I should check out ZOPA.