Investing 3k short term

Jarles

Hi all,
Each Jan I'm paying off 10% of my mortgage as an overpayment, usually I save it up over the 12 months however this year I already have it (3k)in my savings account but it seems a waste to just leave it there with very little interest, is there anywhere I could put it to for the rest of the year, don't mind if it medium to high risk either.
Not really to clued up with investing and just need a little bit of help

bigadaj

A year isn't investing.

You can take a punt on shares or a fund for that year and could profit from it, but in probability terms you're likely to end up with less than you started with rather than more, particulalry with dealing and trading costs taken into account.

puk999

A great introduction to investing would be to open a stocks and shares ISA, pick a fund or two and see how it goes. Maybe do this with only £1.5k of the money. I only suggest this as you say

don't mind if it medium to high risk either

and

Not really to clued up with investing

and IMO a good way to get interested in investing is to dip your toes in the water. If you absolutely can't lose any of the money then don't do it (and realise this contradicts the first quote).

Starlet

I dont know if you would be interested in this. (Im new to money saving, so you probably know about this, but I thought I would say just in case)

With HSBC, you can put aside a maximum of £3000 with their "Regular Saver" deal.


For 12 months, you can put aside a maximum of £250, so it accounts to £3000 for the year http://www.hsbc.co.uk/1/2/savings-accounts/regular-savings-accounts