You have £15,000...

Skyline On Fire

Skyline On Fire

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Luke
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Of completely spare money, you have other money you can live on comfortably for the forseeable future, and no debts, low living costs etc... Basically you have 15k and want to make it into more. What would you do?
 
blow it all on drugs and booze :woot::beer::woot::puke:










Honestly, I'd either play it safe and bang it into a bank and forget about it for a few years. Or, if you into photography and I'd keep an eye out of bargains on ebay and sell them on Talk and visa versa.
 
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Spread it around some stocks and shares.
 
Check with an estate agent - build an extension / convert the loft
 
Mmm interest rates are low.. markets volatile - you need to do something else with the money, even if that is just sticking it in an ISA or building society
 
Chuck it in a savings account and leave it till you need it.
Some new cash isa's now days you can depsoit more than the 3k but you have to leave it for 3 years minimum.
 
Simmotino said:
Go and see my financial adviser. By FAR the best place for advice on such matters!
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I could tell you some stories about the one that my sister in law used recently to "sort out" her finances however I am not allowed due to solicitors now being involved!
 
Make it into more?
I dunno, maybe stick some in an Icelandic bank and buy some BP shares. Oh and there was that nice man from the Nigerian Oil Company who wanted to give me $5million if I could find a few thousand to pay the escrow and and admin fees. Sounds like a good return to me.

Best to spread it out a bit to lower the risk, eh?
 
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Richard King said:
Check with an estate agent - build an extension / convert the loft
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I can't see £15,000 going far to do either of those or even come close to adding £15,000 or more in value to a property.
 
didn't we have this same question not so long back with £5,000?

Do what you did with the £5K which turned it into £15K. Repeat with the £15K.
 
At the moment, with inflation being greater than almost all interest rates, saving can effectively cost you money, so buy something that's almost certain to increase in value and sit on it for a few years.

Maybe buy up some woodland with the intention of selling off any fallen deadwood as logs. Look into selling wood burning stoves as well.
 
investments? bonds? shares? aren't these under the control of the people who got us in all this mess?

i'd buy a load of bankrupt stock (there's plenty knocking around!!) and then flog it on ebay. at least double your money!
 
david1701 said:
buy a car a licence and insure it for a year :D
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this. Invest it in myself. Wheels, a couple more lenses, a big, targetted marketing campaign, self funding some concepts and shoots, and keep the rest for contingency and personal development for the future.
 
How old are you? What's your main source of income that's financing your day-to-day expenses?

I'd say start a small cottage business if you've got the time. Will keep you occupied and gives you a lot of opportunity for return on your investment.
 
I have a tonne of time, and its not 5k or 15k I have spare, its considerably more, its just I dont want to blow everything on one idea, hence me limiting myself to each amount and just looking at the options. I feel like Im wasting the money having it all sitting in savings accounts. As for seeing a financial advisor, I will, if and when I decide on what I want to do with it. So many options, and so much risk. Its frustrating!

And as for why Im asking on a photography forum... Well its probably the most business minded and mature forum I visit. I doubt mountain biking forums, video game forums, and bushcraft/survivalist forums have the same level of financial maturity!
 
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Nod said:
Maybe buy up some woodland with the intention of selling off any fallen deadwood as logs. Look into selling wood burning stoves as well.
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This is by far the best idea in this subject, me and my sister bought some land a year or two ago. We got it for 22k.

It was just 2 acres, flat land with a fence around it and some tree's at the side. Nothing much, we then rented it out to a woman who owned 4 horses and charged about £80 per week for grazing only because the grass could not cut itself and found a natural stream for water. It lasted a year.

Since then we had all the grass cut and packed in to bales for our horses to eat and sleep on saving us £60 per bale.
I would say made about 5k on the land, priced it up recently and its worth more than double what we paid for it.

Could sell it to building firm as the field is on the edge of a small village and it could be used for expansion but for more than 4x what we paid.
Prices are always going to go up on land in the right areas.
 
Blow 5k on the lottery (high risk, high return if you do win), 5k on scratchcards (they're fun to scratch off) and 5k on matched betting, go mostly for the likely to win.
 
john182rs said:
Could sell it to building firm as the field is on the edge of a small village and it could be used for expansion but for more than 4x what we paid.
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Don't count your chickens without knowing the planning policy. There's a strictly enforced envelope for my village.
 
Get to understand leverage and risk.

Look for an asset that gives a healthy return (over twice the financing rate). Put down 25% of the cost, borrow 75% of the cost. If it all goes well you get the return on your investment plus the added return of the money you borrowed making the return on investment much healthier.

Right now there are plenty of opportunities for leveraged investements depending on how much you want to invest.

Look at

Holiday homes, rental properties, nursing homes, nurseries, pubs and anything else that makes a predicatable regular income and can be borrowed against.

It is up you to assess the risk on the investment, what are the chances of the projected income being more or less than the predicted?

Do not invest hoping for capital growth, hoping for a bigger idiot down the line is not a basis for investment.

The chances are that if you buy something and the returns are suitably attractive then the capital growth will come.
 
The land idea is a good one, a friend of mine has just bought some in the Cayman Islands.

Alternatively, you could look at buying houses/apartments off plan in Europe. My aunt bought three houses off plan for £20k each, and sold them for £45k each.

Also Luke, you could go into stocks and shares. But as already mentioned, the market is volatile at the moment. Which can be a good thing, especially with AIM shares. I lost around £1k in Oil stocks earlier this year, only to have an oil strike confirmed 1 month later. So not only did I lose £1k, I also missed out on around £10k profit if I would have held. I guess when Warren Buffet said that the stock exchange allows money to be transferred from the impatient, to the patient, he was correct! I promised myself to stay away from Oil unless I have a large amount of money that I could lose without worrying myself. But you don't just have to look into Oil. I had stocks in a company called BLNX, which I bought at 24p, and recently sold out for 83p, and these are still rising.
 
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Buy a Mercedes Vito 7 seat £5000, £1000 on insurance and fuel, drive to Poland, pick up 6 hookers, drive back, pimp hookers

Proven business model since 2004 :D

Though the government did say all that would be coming from Poland would be doctors and dentists but I don't think they'd be up for it so i'd stick with hookers
 
I invest it in myself to follow a dream.

Life is far too short to sit and ponder and you can't take it with you, so if I'm honest, whether I had £500 or £5000000, I'd most likely have made alot of plans with it within a short period of time, scribbled them all down, scratched out the rubbish ones, highlighted the profitable ones, etc etc.

Tell me if I'm speaking out of line and I sincerely apologise if I am, but from an outsiders POV it appears that you have aquired a sum of money, possibly inherited it. If you've inherited money, that money was lift to you to help you - to help you through tough times and to help you live dreams and even to give you more opertunities than you may have had....so use it fo that....to help you through tough times (savings and investments with some where you don't have to wait weeks to get cash if you need it - you never know what's around the corner!), sort out some things that need sorting out (debts, repairs, that thing you've been putting off doing for months...) and live some of your dreams....reasonably sensibly anyway ;)
 
Not at all speaking out of line :)

I saved an absolute hell of a lot of money from 6 years of hard work in my teenage years, and it's just sitting there whilst I decide what to do. I'm going to travel across Europe next year, from spring til august, and after that I'm unsure. I have no debts, repairs, anything at all financially burdening. I'm just wondering what I should do basically!
 
10k into premium bonds. 3k stocks and shares. Do the research on the companies etc. and that will keep you occupied for a good deal of time. 2k in the bookies playing a mix of low and high odds with 80% going towards safer odds.
 
Daft reply really but something I would love to do if money wasnt a problem, go into the post office and buy 10,000 lucky dips - would love to see the look on the face of the girl on the till! Would be much easier to do online cos you dont need to check them!
 
i you've got more than 15k then property is usually reliable, buy then rent and it gives you an income
 
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