If you had £100

gregorypeck

If you had £100, what would you do with it to improve things?
Invest it?
pay off a debt?
Improve yourself by doing a course in a craft so you could develop and make and sell stuff?
Gamble it / Spread bet?
Buy wholesale goods and try resell to make a profit?

Just wondered what people would do, I have Manageable debts but just want to turn some money around to speed things up.

spadoosh

I'd buy £100 worth of white kinder buenos on offer at co-op 4 for £1.50, would look for a cheaper bulk purchase though. I would eat them and not sell them though.


Itll be different for most people.

In your situation, you seem to want to reduce your debts, so youd think the best option would be to reduce your debts with it.

Gambling would be silly. Matched betting might be worthplaying around with.

Investing it your unlikely to recover more than your paying in interest but depends where your debts are.

If your paying £100 for a course, chances are you can watch a few youtube videos and learn the same. And crafts tend to be more about practice than getting a specific bit of knowledge that youd get from a course. Then there oppotunity costs as you would need supplies, time, effort to get your products out there and sold.

Wholsesale goods and selling on, the margins tend to be small. And for £100 investment its something that most people could do, yet dont. The likes of Richard Branson and the apprentice man would tell you thats where you need to start and this time next year we'll be millionaires.

lynneee

I would go to a car boot and try and get £100 of bargains, and put them on ebay!

Or buy £100 of veg/plant seeds, and then sell them when they have grown (although its a bit late in the growing season for this year), but this would obviously take longer to reap the rewards.

lazer-zxr

Pay off debt.
Since my LBM, I've been focussed on just reducing debt. Not being distracted by opportunities that may increase debt repayment if they involved an element of risk.
That rules out most of your options, with the only two remaining being matched betting and pay off debt.
As I've pretty much exhausted my matched betting campaign..........

(Over £3k from it), to the point where the effort isn't really worth the return anymore,

........I'd pay it straight off the debt.

Either that, or if you havn't exhausted bank switching, spend some on bus fare or mobile phone airtime, and get switching current accounts (there's well over £1k waiting to be made there).

PasturesNew

Always pay off debts. Once you owe nobody anything you can sleep at night.

With all debt somebody owns your 4rse.

gregorypeck

I'm just curious, I like the replies so far, I dont have £100 to gamble, been there and given it up as a bad idea. I watch a lot of youtube vids to improve my craft/woodworking skills and have invested lots into all the kit. I'm expanding on this as a small business venture anyway.

I like the buy bargins and re sell option at the moment although in the past i haven't made my millions lol.

SailorSam

I'm going to the dentist this afternoon, so half of it will be going to the hygienist.

WantToBeSE

Put it towards one of my debts.

sugarcube84

I'm trying to balance paying back the debts and doing the house up, I'm in the middle of doing my kitchen so I'd probably split it 50/50 between spending and paying off the debts.

poppasmurf_bewdley

lynneee wrote: »

I would go to a car boot and try and get £100 of bargains, and put them on ebay!

Or buy £100 of veg/plant seeds, and then sell them when they have grown (although its a bit late in the growing season for this year), but this would obviously take longer to reap the rewards.

This is a good way, but I'd spend the £100 at jumble sales and then have a stall at a car boot, and flog off what's left on eBay.

When I was made redundant a good few years ago, this is what I did and I made a reasonable living - but eBay hadn't been invented then!

oldhand

Id spend it on a lady of ill repute......:o