• Just inherited £1000, any advice?
    149 replies, posted
Don't save it. Currently inflation is higher than the rate of interest and it will be for conceivably a good year or so, so you lose the value of the capital every month it sits in the bank. Invest in something that pays a higher dividend, or like others said put it towards something useful (car service for example). Basically, don't use it to pay off your Student Loan because you don't need to pay that off yet, and saving in a normal account will lose you cash, find an ISA or a higher yield savings account, just do not put it in a god dam current account, (go to bank and ask for financial services is literally the best idea). [QUOTE=NateDude;22266009][I][B]DO NOT BUY SOMETHING STUPID!![/B][/I] [I]Word to the wise: Put the money in a bank. If 1000 of that type of currency is alot, then the interest should be enough for a couple meals a day.[/I] Edited: 9000? That's even better! Just save it, let interest gather and spend some of the interest.[/QUOTE] Interest is useless if inflation is higher than the rate. Many banks don't offer a high yield on low capital investments, so £1000 will not net him a profit from his investment. If he puts £1000 in a 2% yield and inflation is at 3% he loses 1% a year. [U]He loses money by saving in most saving bonds at his capital level (or at best make a few pounds/break even). [/U] Currently inflation is at CPI 3.7%, RPI 5.3%. Most low capital investments will give a yield nowhere near 3.7% unless they are long term investments, and most will have penalties for withdrawals and at the end of it you might make 1%, but compared to the monetary inflation caused by the Quantitative Easing and the rapid changes in CPI and RPI inflation in the UK it really is pointless to save it at the moment. Investing in stocks is useful, or buying stuff you need is the best course of action, for the length of time required to gain a couple of percent on a £1000 savings account is just not worth it.
[QUOTE=NateDude;22266009] Edited: 9000? That's even better! Just save it, let interest gather and spend some of the interest.[/QUOTE] He's in £9000 of [b]debt.[/b]
Dont invest it..... You are more likely to lose it all
[QUOTE=dirty harry;22268895]He's in £9000 of [b]debt.[/b][/QUOTE] It's not "real" debt. He doesn't have to pay it off until he is earning at least £15,000 a year, and you pay a ridiculously small amount back a month that it is basically a non-existent debt. It's not like a mortgage. Hell, if you don't pay off the capital within 25 years it gets wiped away.
Just save it one day youll need it or let the interest grow.
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porn
[QUOTE=pyrofiliac;22265186]Invest it.[/QUOTE] Holy ironic avatar batman.
Use it to buy a reviving machine and revive her or some shit man do it
Buy chicken
im sorry for your loss
Put it all on red
Buy some video games or get some subscriptions to rpgs, like WoW. Rpgs are good time wasters.
Hookers and flapjacks, but dont get the hookers
[QUOTE=dcalde78;22264501]Spend it on a bitchin' as fuck headstone for your nan's grave[/QUOTE] [IMG]http://sphotos.ak.fbcdn.net/hphotos-ak-snc1/hs258.snc1/10518_159834091557_553756557_4017291_1347151_n.jpg[/IMG] That be nice.
Put it in a savings account and let it build interest. You will make cash in the long run.
hookers :3
Have a money fight with someone then put it into savings and invest it.
Eat it and see if your poop is green.
Get a giant portrait of your grandma looking badass and redecorate your living room to have a victorian style, then put the portrait there. I know that's what they more or less did when my grandpa died.
A nice watch.
Buy a cumpooper. Or put it in a savings account for a rainy day and watch the interest accumulate.
Spend it on a fleshlight and a gaming rig. Maybe buy some good fapping material or a larger tv/monitor. I dunno. It's not that much money. If you want my honest opinion, I'd say either put it in the bank or invest it in the stock market. Just remember to diversify your investment portfolio if you plan to do stocks (or any other kind of investments) in order to minimize risk.
£1000 worth of marijuana. Obligatory.
Savings account of some sort with decent interest on it.
Invest 300 of it in BP. BP will rise when the oil spill is cleared up.
Invest that shit man.
Put all the cash on a bag, go on top of a building, and throw it all away!
Get it in £5 denominations wrap it around your dick and fap.
[url]www.dealextreme.com[/url] Save half of it, then spend the rest on this awesome site.
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