Small sum, short period
Discussion
Hi all,
It's a long story, but essentially I have been tasked with keeping a small sum ~£1500 set aside for 3-6 months and have been thinking of ways it could be protected from inflation, which then turned into thinking of ways it could potentially be grown over this short period.
My first thought was to stick it into premium bonds for the potential small win here or there but otherwise I'm out of ideas. I think the time period is a bit short for any S&S ISAs to be worthwhile, my only other thought was buying and selling cars at the cheap end of the market but that seems a massive gamble for probably little to no benefit.
....I'm far from a powerfully built director, as the figures may show.
It's a long story, but essentially I have been tasked with keeping a small sum ~£1500 set aside for 3-6 months and have been thinking of ways it could be protected from inflation, which then turned into thinking of ways it could potentially be grown over this short period.
My first thought was to stick it into premium bonds for the potential small win here or there but otherwise I'm out of ideas. I think the time period is a bit short for any S&S ISAs to be worthwhile, my only other thought was buying and selling cars at the cheap end of the market but that seems a massive gamble for probably little to no benefit.
....I'm far from a powerfully built director, as the figures may show.
An investment needs to be in PBs for a month prior to being entered into a draw, which can mean missing two draws depending when you invest.
For 3-6 months an interest paying current account might be best, especially if you can 'switch' banks and get a cash bonus. You won't be beating inflation though.
For 3-6 months an interest paying current account might be best, especially if you can 'switch' banks and get a cash bonus. You won't be beating inflation though.
My uneducated understanding of matched betting, in a nutshell:
Using a free bet offer with (for example) Bet365. Place that bet (e.g. £25) on a result.
Using a different provider, e.g. William Hill, place the opposite bet for the same amount providing the odds are closely matched.
Either outcome should provide a win, therefore profit.
Keep going utilising the various free bet offers across different providers.
Sounds simple in practice but I'd imagine it's more complex / easy to fail, otherwise more people would be doing it?
Using a free bet offer with (for example) Bet365. Place that bet (e.g. £25) on a result.
Using a different provider, e.g. William Hill, place the opposite bet for the same amount providing the odds are closely matched.
Either outcome should provide a win, therefore profit.
Keep going utilising the various free bet offers across different providers.
Sounds simple in practice but I'd imagine it's more complex / easy to fail, otherwise more people would be doing it?
SBF said:
My uneducated understanding of matched betting, in a nutshell:
Using a free bet offer with (for example) Bet365. Place that bet (e.g. £25) on a result.
Using a different provider, e.g. William Hill, place the opposite bet for the same amount providing the odds are closely matched.
Either outcome should provide a win, therefore profit.
Keep going utilising the various free bet offers across different providers.
Sounds simple in practice but I'd imagine it's more complex / easy to fail, otherwise more people would be doing it?
Close. You lay the initial bet on an exchange (betfair, betdaq, etc) then rinse and repeat with the free bet at a predetermined level to guarantee an optimum return.Using a free bet offer with (for example) Bet365. Place that bet (e.g. £25) on a result.
Using a different provider, e.g. William Hill, place the opposite bet for the same amount providing the odds are closely matched.
Either outcome should provide a win, therefore profit.
Keep going utilising the various free bet offers across different providers.
Sounds simple in practice but I'd imagine it's more complex / easy to fail, otherwise more people would be doing it?
It really isn't complex once you have grasped what you need to do, yes you can screw up but you shouldn't if you take your time and double check everything.
And yes the bookie accounts will last a week tops before the ban hammer strikes but if you want a quick smash and grab way to make £500* in a week then crack on.
* Just had a look and can see £800+ in offers currently which you should aim to pull 70+% of that out in profit.
1500 for a few months. I really wouldn’t bother as the down side against inflation will be minimal as will the potential gains. Unless you do something high risk and high workload you will end up as a busy fool with a lot of hassle for very little.
I would gamble on the premium bonds for no risk (apart from lost opportunity)and simple ‘ low time spent.
I would gamble on the premium bonds for no risk (apart from lost opportunity)and simple ‘ low time spent.
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