What to do with a spare £5k?...

brad_drum

wmb194

Spend it. Pension. You’ve given no context to the question e.g., are these your only savings and will you need to use it for something soon so there’s no way to answer.

brad_drum

What to do with a spare £5k?

Flugelhorn

put it in my bank account

eskbanker

brad_drum said:

What to do with a spare £5k?

You'd already said that twice, but it still doesn't exactly paint a useful picture of your finances in order to provide meaningful answers!  In the absence of anything else to go on, the preferred option suggested by anyone picking one from your poll could be completely inappropriate, as (for example) 'spare' says nothing about when you're likely to need access to that money, in terms of how long to lock it away for....

brad_drum

I am completely open to suggestions. I have £5k sat in an account that's doing absolutely nothing. I might as well put it to better use than sat earning literally no interest. I am not a guru when it comes to investing, nor do I want to be, hence sticking to ISAs. If I lost the £5k it would have zero impact. What's the best option? Thanks

XzavierWalnut

Premium bonds.

jimjames

Stocks and shares ISA

brad_drum said:

I am completely open to suggestions. I have £5k sat in an account that's doing absolutely nothing. I might as well put it to better use than sat earning literally no interest. I am not a guru when it comes to investing, nor do I want to be, hence sticking to ISAs. If I lost the £5k it would have zero impact. What's the best option? Thanks

If it's the choice of sitting not earning interest or earning interest then that's a very easy choice. If you've not used your ISA allowance then open one and use that.

VNX

Cash ISA

brad_drum said:

I am completely open to suggestions. I have £5k sat in an account that's doing absolutely nothing. I might as well put it to better use than sat earning literally no interest. I am not a guru when it comes to investing, nor do I want to be, hence sticking to ISAs. If I lost the £5k it would have zero impact. What's the best option? Thanks

If losing £5,000 would have zero impact then bothering to spend time on what to do with it is a waste of time for a couple of hundred pounds a year interest.

take it to the casino 

eskbanker

brad_drum said:

I am completely open to suggestions. I have £5k sat in an account that's doing absolutely nothing. I might as well put it to better use than sat earning literally no interest. I am not a guru when it comes to investing, nor do I want to be, hence sticking to ISAs. If I lost the £5k it would have zero impact. What's the best option? Thanks

It's unclear how you've reached the conclusion that you should choose between cash ISA or S&S ISA but there are plenty of other options out there, so I'd suggest spending more time reading through the forum and the wider site in order to build up your knowledge.

The Flowchart - UKPersonalFinance Wiki might be somewhere to start....

MX5huggy

Stocks and shares ISA

Stocks and Shares ISA but that doesn’t really help you because you then have to choose a platform and investment (I think there is 80000 options). Do you want a roll a coaster or steady as she goes investment?