Best ROI / Capital Gains on small investments.
Discussion
After a bit of advise as I'm coming short on anything foolproof, but hey everyone would be doing it then non?
As I'm earning a little more now, and have a relatively fixed set of comfortable living costs at the moment (well for me, I'm not buying a Rolex every day of the week). I'm looking ahead slightly at the best way to make some of the extra money work for me.
I've recently bought a nice 2010 Astra that should see me good on the motoring front for a while, and in a few months I'll be happy with a pot set aside to replace / repair if needed.
I'm a homeowner, and shy of a new bathroom there is nothing required on the property, certainly not that will result in a large capitol gain. I suspect I'm close to / at the ceiling price for the area.
I'm looking for ways to invest / grow, a small investment, say £250 pcm or in a while around £5k.
All I can really come up with is a regular saver at around 2% return, and after that shoveling the money away into a low rate of return (but safe) savings account for later.
Obviously I'm nowhere near whats required for a BTL property. Sadly I have no offroad parking / garage to dabble in classic cars, not that I can afford even a humble one these days.
I did look into a holiday caravan (groan), but looking at £10k for something decent, plus ~£1k site fees, plus the odd refurb and it really doesn't seem to be any return, especially if I had to try and find someone to clean it after each visit.
I think the amount I've have to play with is a bit mickey mouse for shares, certainly I'd expect a fair share of any gains to be whittled away by account / transaction charges.
So open to the floor, I've seen crowdfunding etc, but the gains don't seem to be worth the risk?
I'm not looking / expecting to become a millionaire overnight. I just have a some spare cash (ish) and want to try and make it work for me. I have some spare time to invest if the ideas require some form of management etc?
As I'm earning a little more now, and have a relatively fixed set of comfortable living costs at the moment (well for me, I'm not buying a Rolex every day of the week). I'm looking ahead slightly at the best way to make some of the extra money work for me.
I've recently bought a nice 2010 Astra that should see me good on the motoring front for a while, and in a few months I'll be happy with a pot set aside to replace / repair if needed.
I'm a homeowner, and shy of a new bathroom there is nothing required on the property, certainly not that will result in a large capitol gain. I suspect I'm close to / at the ceiling price for the area.
I'm looking for ways to invest / grow, a small investment, say £250 pcm or in a while around £5k.
All I can really come up with is a regular saver at around 2% return, and after that shoveling the money away into a low rate of return (but safe) savings account for later.
Obviously I'm nowhere near whats required for a BTL property. Sadly I have no offroad parking / garage to dabble in classic cars, not that I can afford even a humble one these days.
I did look into a holiday caravan (groan), but looking at £10k for something decent, plus ~£1k site fees, plus the odd refurb and it really doesn't seem to be any return, especially if I had to try and find someone to clean it after each visit.
I think the amount I've have to play with is a bit mickey mouse for shares, certainly I'd expect a fair share of any gains to be whittled away by account / transaction charges.
So open to the floor, I've seen crowdfunding etc, but the gains don't seem to be worth the risk?
I'm not looking / expecting to become a millionaire overnight. I just have a some spare cash (ish) and want to try and make it work for me. I have some spare time to invest if the ideas require some form of management etc?
Bullett said:
Have a look at Zopa, safe as can be expected, reasonable returns.
This.I've had money in there for a couple of years now, my average rate is currently 5.85%. The returns now are slightly less but more safe than before with a small percent going into a fund used to cover any shortcomings.
(PM me if you want a referral code which gives us £25 each)
Best thing to do with that amount of money is to overpay your mortgage if its allowed by your lender.
There are lots of online calculators that will show how much this will save over the life of your mortgage, usually a considerable amount.
You will also be paying off during a period of low interest rates, and this will give you some protection against future rises in rates.
There are lots of online calculators that will show how much this will save over the life of your mortgage, usually a considerable amount.
You will also be paying off during a period of low interest rates, and this will give you some protection against future rises in rates.
Thanks chaps,
Looks like that is probably just about the only option. I'll sort out a good chunk in an instant access savings account at the best my bank can do atm. As someone fairly risk averse that's probably the best place for it now so its there if I need it for a car / cover some unemployment etc.
Once I've got that sorted in about 6 months I guess I'll review interest rates and options to get a better return on some extra savings/investments.
Looks like that is probably just about the only option. I'll sort out a good chunk in an instant access savings account at the best my bank can do atm. As someone fairly risk averse that's probably the best place for it now so its there if I need it for a car / cover some unemployment etc.
Once I've got that sorted in about 6 months I guess I'll review interest rates and options to get a better return on some extra savings/investments.
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