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Waste of time in the bank. The bank emailed me start of Covid to say they’re were putting the awful rate offered down even lower, to 0%. 
 

Got mine in my stocks and shares ISA. 
 

Up 15% in total since I started maybe 2 years ago. Had a slight dip during start of Covid but never went negative. 
 

More risk obviously. 
 

Best thing I should have done, when I finished Uni I saw a Rolex Air King in the shop I liked, I didn’t buy it. They’re considerably more expansive now and you can’t get one from what I’ve seen. 
 

Should have bought it and left it in the box under the bed 🤣

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1 hour ago, Lloyd90 said:

Waste of time in the bank. The bank emailed me start of Covid to say they’re were putting the awful rate offered down even lower, to 0%. 
 

Got mine in my stocks and shares ISA. 
 

Up 15% in total since I started maybe 2 years ago. Had a slight dip during start of Covid but never went negative. 
 

More risk obviously. 
 

Best thing I should have done, when I finished Uni I saw a Rolex Air King in the shop I liked, I didn’t buy it. They’re considerably more expansive now and you can’t get one from what I’ve seen. 
 

Should have bought it and left it in the box under the bed 🤣

Rolex sports watches are generally waiting list/by invitation only which hikes the secondhand prices up sometimes hugely! 
submariner ‘hulk’ (green bezel) for example were recently discontinued, were always a several year wait minimum anyway and are now going for 2-3 times rrp as you just can’t get them. 
Great investments! 

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I got a account through principle accounting, not sure if it’s available over there.  I’m at 22.4% for this year and 21% last year.  It only takes about 48 hours to sell and transfer funds to checking if needed.  So not as accessible as a savings but well worth the hassle. 

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If the Democrats wouldn’t have shut our economy down I would have closed out the year in the 30% growth range.  

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36 minutes ago, JTaylor91 said:

I stuck a fair chunk of savings in to a certain airline when the stocks plummeted. Looking at it this morning they are up 162%. 

Hello, even in these difficult time the stocks and share market is doing quite well, but you realy need to study the form, , it's still worth investing and can be better than saving accounts, BBC red button give a good idea on shares and companies, 

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On 27/12/2020 at 15:31, Rim Fire said:

I put  40k in premium bonds no interest but i do get quite a few wins throughout the year more than in the bank

This. We get a higher return than most savings accounts and there’s the chance of a big win. You do need a fair amount in bonds though.

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51 minutes ago, Pangolin said:

Depending how much you have stick it in a house and rent it out. 

And hope you get a good tenant that will pay the rent & not wreck the house, been there be very careful.

Edited by blackbird
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6 minutes ago, Cosmicblue said:

Me too, similar amount, got £550 back in 2020.

The interest rate for the premium bond prize fund was reduced to 1% in November so still better than most banks but less than it was. I didn’t get a win in December which is the first time for many months. 

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1 hour ago, Pangolin said:

Depending how much you have stick it in a house and rent it out. 

It's work but can be rewarding.

There are risks but depending on your situation it can be the best option by far.

My most recent will return 18 times what it would in the bank pa. (depending on the type of account of course)

Any issues that may arise will be more than covered!!

 

Edd

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The biggest mistake I think many people make is they look at savings accounts (which are very poor at the moment) but they also have loans on cars, credit card dept etc. The logical thing to do is clear your dept first unless it’s on 0% that is. A prime example is my nephew he has £40k in premium bonds but has taken out a PCP on a car at 7% APR.

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i've got a wad in premium bonds that ticks over with almost monthly prizes.

for me, the best use of money at the moment is working down your mortgage and overpay on it.

£1 paid in extra is a full £1 paid off with no interest to add.

money in the bank is not working and earning for you.

f.

 

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1 hour ago, eddoakley said:

It's work but can be rewarding.

There are risks but depending on your situation it can be the best option by far.

My most recent will return 18 times what it would in the bank pa. (depending on the type of account of course)

Any issues that may arise will be more than covered!!

 

Edd

Yes but the change in the tax laws have really eaten into the profits

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54 minutes ago, Vince Green said:

Yes but the change in the tax laws have really eaten into the profits

True but still better than any bank.

I've just bought one for 95k. Pays me £750 a month rent. A little bit of a refurb, some regular admin and then taxed on what's left.

Hopefully some capital appreciation eventually. Never plan on selling so no risk to the invested amount if the market crashes.

Find an account to match that.

 

Edd

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1 hour ago, Rim Fire said:

I bought 3 between 2008 and 2010 i sold 1 last year and still rent other 2 they say don't rent to your  family but i have never had any trouble 

You haven’t met my family 😂 

Edited by blackbird
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