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    Help what do I do with my money.

    Ok so I have been given £500 by my grandad, not sure why he didn't say he just gave me an envelope and told me to put it in my bag and open it later.

    The thing is I'm now not sure what to do with it. I really dont need anything possesion wise ( i.e computer, t.v etc.)

    So does anybody have any ideas what I could do with it, I dont want to fritter it away on nothing then wonder where it's gone in a months time, is there any way I could invest it ( something not too risky ) so it is there for the future should I need it.

    So what are your suggestions.

    21 Comments

    put it in the bank . if your grandad is ever in need himself you can then help him out

    How about an ISA? Have a look at [url]www.moneysavingexpert.com[/url] good advice there!

    give me half of it

    Give it away on here like the JFK did (multi id needed)

    you get a lot of rep that way from teh n00bz...

    Premium Bonds?

    button_moon;4697097

    put it in the bank . if your grandad is ever in need himself you can then … put it in the bank . if your grandad is ever in need himself you can then help him out



    +1 :thumbsup:

    Original Poster

    starsparkle2311;4697108

    give it to me - seriously - i'm poor, you do believe in charity right?



    Lol nope afraid not I'm all me me me

    ilovelilac;4697112

    give me half of it



    Sorry hardly seems fair to all the other members,

    Go on a wild drunken bender.

    starsparkle2311;4697134

    really? i fear I have to report you Greg for rep begging … really? i fear I have to report you Greg for rep begging influence!!!!!!!!!



    WHO IS THIS GREG YOU KEEP REFERRING TO??!?!?!?

    (does my box in)

    mrspodington;4697138

    Lol nope afraid not I'm all me me meSorry hardly seems fair to all the … Lol nope afraid not I'm all me me meSorry hardly seems fair to all the other members,



    you could share the other half amongst them :whistling:

    Original Poster

    button_moon;4697097

    put it in the bank . if your grandad is ever in need himself you can then … put it in the bank . if your grandad is ever in need himself you can then help him out



    I like that idea and was going to get him a present to say thank you, but yes putting it away and maybe helping him out would be nice.

    Banned

    grex9101;4697114

    Give it away on here like the JFK did (multi id needed)you get a lot of … Give it away on here like the JFK did (multi id needed)you get a lot of rep that way from teh n00bz...



    true dat.

    Original Poster

    Banana79;4697099

    How about an ISA? Have a look at [url]www.moneysavingexpert.com[/url] … How about an ISA? Have a look at [url]www.moneysavingexpert.com[/url] good advice there!



    Thanks will have a look guess an isa isn't too risky and its easily available if needed.

    I would suggest putting it in an ISA if you havent reached your limit this year, you have about 2 weeks to do it.

    Cash ISAs arent risky, but be careful which one you get as some have terms and conditions which mean it has to be there for X amount of time before you can withdraw (plenty that allow you to withdraw at any time, the interest is just usually lower)

    starsparkle2311;4697170

    he's a nice version of you!!!!!!!!



    that's unpossible!!!!:p

    two words, Premium bonds.

    starsparkle2311;4697997

    one word - don't!!!!!!!



    ^^^ Listen to Sparsharkle34, he knows what he's talking about!

    Put it into premium bonds.
    You won't earn much interest anywhere else at the moment in this economic climate and at the end of the day, you will still have your £500, plus you will have had the chance of winning a million each and every month.
    I know a lot of people will quote the odds of winning are very slim, but hey, someone does win it every month.

    If you need the money back, it is very easy to cash them back in. :thumbsup:

    starsparkle2311;4697997

    one word - don't!!!!!!!



    Don't listen to this guy, premium bonds are THE safest thing to do with your money at the moment. Do your research on them and you will find out yourself once you put the money in that they are well worth it.

    Starsparkle have you ever had premium bonds?

    starsparkle2311;4698572

    yes,I've had them for about 10 years, I won £50 last year, woohoo, when … yes,I've had them for about 10 years, I won £50 last year, woohoo, when I told the bank they were very cynical and asked had I recently changed address, I had, they just nodded with that, ah yes, we know approach!!!!!!!!!!!!!!!!!



    ok.

    If you get on really well with your grandad, and he isn't the type to spoil himself, why not use some of it to take him out for the day to somewhere he's always wanted. A few years ago my husband took his grandad to see the Snooker at the Crucible as he'd always wanted to go, he loved it and my husband was so pleased he'd done it as within a couple of years his health had deteriorated and he wouldn't have been able to go. You don't have to use all the £500 but would be a lovely reply gesture.
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