So I have £30,000 sitting around

Audaxer

Eco_Miser wrote: »

The OP has a largish lump sum, but not much in the way of monthly income, so a lump sum investment would be better.

I agree as long as he fully understands it is a long term investment, and if there is an equity crash just after he invested the whole £30k and the value then drops to say £20k he doesn't panic and sell, thereby crystallising his loss. Although I think in his position I would still drip feed it in over the next couple of years, and only funds for which I had no short or medium terms plans.

Alexland

Yazi wrote: »

What do you mean by £xxx per month? I believe the other 123 costs money to open up.

Because you have a 123 student account you are a 123 World customer entitled to open a 5% regular saver account into which you can add up to £200 per month (so the balance after 12 months is £2400 plus interest). The interest is calculated by the day depending on the account balance so it's less than 5% of the final balance but while some of the money is not yet in the account then it should be earning interest elsewhere. After 12 months the account matures and you can withdraw with interest and start again.

https://www.santander.co.uk/uk/savings/regular-esaver

Nationwide have a similar 5% regular saver account, for £250 per month.

https://www.nationwide.co.uk/products/savings/flexclusive-regular-saver/features-and-benefits

Alexland

Audaxer wrote: »

I agree as long as he fully understands it is a long term investment, and if there is an equity crash just after he invested the whole £30k and the value then drops to say £20k he doesn't panic and sell, thereby crystallising his loss. Although I think in his position I would still drip feed it in over the next couple of years, and only funds for which I had no short or medium terms plans.

Yes I agree it's probably too early for the OP to be investing in stocks and shares as they are likely to need this money soon to progress their early adult life. Once they have a full time job then definitely start with the pension harvesting max employer contributions.

Alexland

Eco_Miser wrote: »

Santander 123 customers (any of the 123 current accounts) can open a monthly saving account paying 5% AER on a total which increases by a monthly sum of up to £200.

Not quite true as you need to be at least 16 years old so it's not available to 123 Mini in Trust (under 11) or some 123 Mini (11+) customers.

steampowered

iltisman wrote: »

Listen to your student mates they are going to vote for Corbyn and Mrs May is looking a bit wobbly. Buy US stocks or even Dollars as the pound will collapse if Corby wins.

Funny that you seem to be concerned about exchange rates.

I searched your post history and it seems you post a lot about supporting Brexit. Yet not one of your posts mentions the pound falling through the floor, with its largest ever decreases, as a result of the Brexit vote.

It seems you only care about the value of the pound when we are talking about left wing causes. Not when we are talking about right wing causes. A bit of consistency would be nice.

iltisman

steampowered wrote: »

Funny that you seem to be concerned about exchange rates.

I searched your post history and it seems you post a lot about supporting Brexit. Yet not one of your posts mentions the pound falling through the floor, with its largest ever decreases, as a result of the Brexit vote.

It seems you only care about the value of the pound when we are talking about left wing causes. Not when we are talking about right wing causes. A bit of consistency would be nice.

Yes I am a Brexiter and fortunately I have spread my savings across currencies etc . The Brexit vote was a surprise to me but I should have taken note of my friends both lefties and righties who seemed to be voting for Brexit. The currency fall after the vote was made far worse by the BoE dropping interest rates and doom mongering.
The same applies to a possible early GE my normally Labour voting friends see disaster if Corbyn took power.

JustAnotherSaver

You have a HTB ISA which says to me you're thinking of buying a house at some point.
As such i probably wouldn't look at risking losing money.
Sure people will counter that by talking of inflation but it depends how much confidence you have actually investing your money (as in you can lose what you put in) right now.

Each to their own.

When i was your age i was just building my cash pot as best as i could to generate as big a deposit as i could to make buying my house as easy as i could.

The knock on effect of that was ......... i totally neglected retirement planning, but then if i'd have put some that way then i wouldn't have afforded the house we have. So you makes your choices and stand by them.

enthusiasticsaver

Cash returns are pretty poor at the moment but the timescale for investment is longer than perhaps you would like to consider if you intend buying a property when you have graduated and got a job. I think I would stick to current accounts and regular savers. You might want to look at Tesco current accounts which pay 3% up to £3k. You can get round direct debit/income requirements. Nationwide regular saver is another account worth looking into.

Vanguard lifestrategy funds are great for diversified multi asset funds with low charges but the usual benchmark is don't invest anything you may need in the next 5 years. Reading up on it though and maybe drop feeding as a start to investing may be worth it though. Personally I would not pay off the student loan yet.

Voyager2002

Yazi wrote: »

Wouldn't know what to spend it on!
As I work in the evenings to early mornings I don't usually get the time to go out to do those parties :A

Spend some of your money on time: with your money you do not need to work every evening and so can spend more time reading round your subject, as well as having a social life and developing social skills. So long as you have a decent track record and can show some achievements as a team leader, giving up the job to concentrate on developing academic and social skills can only help you.

buglawton

With that £30k as deposit, could you get a mom'n'pop sponsored mortgage while still a student? I read that 2 building societies now offer a tailored mortgage whose purpose is to allow the student to live in the property while letting out rooms to other students. 1st consequence us that your own rent will be free. This type of mortgage seems to be a recent innovation.