I’ve just found out that I’ll be a little better off than I first anticipated following a large purchase.
So my question would be - what would you do with 1k which feels a little like a windfall?
I have an emergency fund (about a months earnings) and some UK shares already (on a very boring web only shareview platform).
My current investment options are Dozens Invest, to have a punt via Revolut (picking stocks, commodities or dare I say it Crypto) or to look into a new provider. Does anyone have any recommendations (been with Freetrade & didn’t much like it)
I’ve had a look at fixed rate savers - I’ve read that at present it’s best to go short to medium term with rates being beaten week on week?
Atom 6 months is 1.5pc, Shawbrook is 2pc. It would pay out £10 in 6 months
I get 1.2% instant access - so I suppose it’s a question of whether it’s worth the lock up
There are a few referral programs out there that pay you £10 pounds ish to leave £100 in there for x days but are often crypto promotions…some let you leave it in GBP.
If you don’t need to add to your savings stash (and £1000 isn’t going to make much difference as you’ve pointed out), then spend it in a totally devil-may-care fashion.
Phone
Laptop
Posh shoes
Weekend at Raymond Blanc’s
New front-door
Leather jacket from Joe Bloggs
All of the above will give you change……
Or leave it in your bank and simply admire the balance.
Add it to your existing investment strategy. Boring but simple. Then forget about it. As with apples, you use the windfall to boost your extraction over the longer term, not glut out!
Hmm - I have been a little laissez faire with my earnings of late & the large purchase I mentioned has left me an emergency fund moreso than a stash. I will probably save/invest the funds for now but perhaps they’ll end up buying some of that ilk in time maybe 6 months in a bond is a good idea & I can see how I feel then?
Indeed, despite me talking down the £10 interest, I’d be sure to attain it rather than nothing, I suppose it’s just whether there’s a good way to start investing the money that I can’t think of presently…
I don’t actually - I’ve recently just maxed & cashed out a Help to Buy ISA - I understood previously you could have only one bonus. I don’t know much as Lisa’s being honest! Do they have benefits other than home buying ones?
Yeah that was the logic I understood behind the product. Is it web browser or app based? I’m assuming you remit the money via bank transfer (instant or 2h style?)
Shawbrook Banklink
It is web browser based. No app. I sent £1 faster payment to check details were accurate and then added the rest once it appeared. Was a smooth enough process, for me.
It is refreshing to see, in an earlier post, that you recognised the fact that your return is actually 1% of your capital, i.e. 2% / 6 months, as opposed to 2%, unlike some numpties on MSE forum, who then tried to claim it was a con and false advertising
maybe 6 months in a bond is a good idea & I can see how I feel then?
