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7k to invest for a year.
sophie131
Posts: 853 Forumite
Hiya! Here is my situation, i'm 17, I have 7k in a builiding society with hardly any interest. I'm off to uni next september and thought doing something (non risky !) with this money would be a good idea to up my savings a bit. I just opened an alliance and leicester account which gives 10% for the first year so i'm planning to put 1k into that. What other things could I do with the money to make more!!
Thanks for any help
Thanks for any help
0
Comments
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a year is two short to invest so you should stick with savings/cash based products.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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If you want instant access, on-line accounts such as IceSave and Kaupthing Edge will offer 6.3 to 6.5%, if you can put it away for 12 months, you'll get 7% with some bonds.
These are all savings, not investments, so carry no risk as such.
Have a look at the tables at Moneyfacts.0
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