Investing 70k

digiman97

I hope to sell my house and come out with 70k,i would like to make my money earn money,how could i do this.I am going to rent some where cheap for a while so i can pay off some debts, because while i have the house i have NO spare cash to pay the debts,also bad /terrible credit rating too

GettingThingsDone

Hi digiman97 - why not post up your SOA and we'll see if we can help before you have to sell your house?

digiman97

I owe 5k on a halifax credit card,10k on a Halifax loan,my house needs 5k spending on it to make it finished,i have not even got a kitchen because i have no money to finish it off.I owe around 4 k in other bills.thats why i was thinking off bailing out,i don't like the street anymore .

Jacks_xxx

Hey sweetie,

It can be hard to sell a house with unfinished work going on - and you never get anything like the proper value...

I know you feel like you want to get away but if you post up your full situation the fab peeps on here will come up with lots of different solutions - and you never know you might like one of their ideas better !

Have a look at this for some ideas on how to do that.

http://forums.moneysavingexpert.com/showthread.html?t=107280

Love Jacks xxx

conspirator

Personally with property prices the way they are i would invest in a property in Hungary.

Few months ago 15k would get you a 6 bedroom house with a few acres.

Pound a pint also.

Just a quick suggestion

tyllwyd

If you want advice on investing your money, you would get a better response if you post on the savings and investments board.

But a lot depends on what risk you can take with that money. If you want a (more or less) no-risk option, you are going to have to look at things like savings accounts. If you want the chance of making a higher return, and you are prepared to look longer term, and take a risk that you might lose money rather than make money, then there are other investment options.

For as a starting point you could look here
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingMoney/SavingsAndInvestments/DG_10013712