• Welcome to the ShrimperZone forums.
    You are currently viewing our boards as a guest which only gives you limited access.

    Existing Users:.
    Please log-in using your existing username and password. If you have any problems, please see below.

    New Users:
    Join our free community now and gain access to post topics, communicate privately with other members, respond to polls, upload content and access many other special features. Registration is fast, simple and free. Click here to join.

    Fans from other clubs
    We welcome and appreciate supporters from other clubs who wish to engage in sensible discussion. Please feel free to join as above but understand that this is a moderated site and those who cannot play nicely will be quickly removed.

    Assistance Required
    For help with the registration process or accessing your account, please send a note using the Contact us link in the footer, please include your account name. We can then provide you with a new password and verification to get you on the site.

Investing

Forums New posts

EastStandBlue

Life President
Now, in about next month I'm coming in to some money... Nothing major, but it's more money than I want in a student bank out to spunk up the wall, as that's pretty much what I've done with my money the past 2 years.

I'm looking at Investing it, but with the current state of the market I have no Idea where to start, Anybody who's financially in the know able to recommend anything in particular?
 
Personally, I'd go for property. Prices are on the drop at the moment (they are here anyway) but in the long term they'll always tend to go up. Plus you either get somewhere to live, or a rental income.

Talking of which, does anybody have any good advice for mortgages? I'm looking for one at the moment, but know next to nothing about them!
 
swanseashrimper said:
Personally, I'd go for property. Prices are on the drop at the moment (they are here anyway) but in the long term they'll always tend to go up. Plus you either get somewhere to live, or a rental income.

Talking of which, does anybody have any good advice for mortgages? I'm looking for one at the moment, but know next to nothing about them!
Click to expand...

Dave TS is yer man for that mate. Good luck, most lenders are expecting at least a 5% deposit these days.
 
May I suggest an ISA? 6% return tax free for £3,600. The rest? Give to me!
 
I'm no expert, you haven't told us enough information to be given proper advice and in any case, I'd suggest that you seek proper advice rather than from here.

But to give you some ideas to think about:

1. Pay off any existing credit card debts and other debts.
2. Start building up a cash reserve. Put the first £3,600 in a cash ISA, the rest in the highest interest account you can find. I'd suggest you'd want to build up to somewhere between ten thousand and twenty thousand in cash. This would be for emergencies and a deposit on your first house.
3. Start a pension (or put a lump sum in it if you've already got one). The more you put in now, the less you have to put in in later life. Plus its incredibly tax efficient, although if you are a student you might not be a tax-payer yet.
4. If you've still got money left over having paid off your debts, have used up your cash ISA for the year (and maybe put some aside for next year's allowance as well) and started a pension, you could start to think about investing in other things. Financial Advisers are always keen to help you spend it, but remember they get commission for it, so its in their interest for you to spend it on the products they want to sell to you.
 
Yorkshire Blue said:
I'm no expert, you haven't told us enough information to be given proper advice and in any case, I'd suggest that you seek proper advice rather than from here.

But to give you some ideas to think about:

1. Pay off any existing credit card debts and other debts.
2. Start building up a cash reserve. Put the first £3,600 in a cash ISA, the rest in the highest interest account you can find. I'd suggest you'd want to build up to somewhere between ten thousand and twenty thousand in cash. This would be for emergencies and a deposit on your first house.
3. Start a pension (or put a lump sum in it if you've already got one). The more you put in now, the less you have to put in in later life. Plus its incredibly tax efficient, although if you are a student you might not be a tax-payer yet.
4. If you've still got money left over having paid off your debts, have used up your cash ISA for the year (and maybe put some aside for next year's allowance as well) and started a pension, you could start to think about investing in other things. Financial Advisers are always keen to help you spend it, but remember they get commission for it, so its in their interest for you to spend it on the products they want to sell to you.
Click to expand...

Thanks a lot, seems like a good plan... The only existing debts I have are my Student Loans, which i may just pay off the day I graduate with this money.
 
Being a student myself mate, i would HIGHLY recommend plumping £3,600 in an ISA. I have one with Barclays and after a year you get a nice return. So id definetly recommend chucking some in there for a year, forget about it, and then be nice and happy with the interest you get next year (even if it does just mean you blow it on a graduation party)

As for stocks and shares, thats risky buisness. I have a mate you has quite a bit in Apple and thats done him wonders...howveer he bought them a fair few months ago when they were at a low, so you would have to scout around.
 
EastStandBlue said:
Thanks a lot, seems like a good plan... The only existing debts I have are my Student Loans, which i may just pay off the day I graduate with this money.
Click to expand...

I don't think I would do that. As far as I know, student loans only have to be paid back when you start work, and at a very low rate at that. I would suggest you keep your money and invest it, and pay back your loan with your salary.

If you pay off your loan with this money, you'll have nothing to show for it in a few years time.
 
yeah whatever you do don't just pay off your student loan. it doesn't accrue any real interest, and so you'll be better off putting it into an isa and getting some actual interest on it. my student loan repayments are only 50 a month so it's not too big a monthly burden really
 
I would suggest opening some type of retirement account. There are loads of websites that show how even a smallish investment at a young age, followed by regular amounts monthly can set you up very nicely late in life. I recently did this and I'm very happy I did. I graduated from college only two years ago, and even though my job is fairly interesting, the thought of working for another 40 years is daunting enough, so I want to make sure that my working days won't last much longer than that.
 
EastStandBlue said:
Now, in about next month I'm coming in to some money... Nothing major, but it's more money than I want in a student bank out to spunk up the wall, as that's pretty much what I've done with my money the past 2 years.

I'm looking at Investing it, but with the current state of the market I have no Idea where to start, Anybody who's financially in the know able to recommend anything in particular?
Click to expand...

Have a word with TonyTheKray. See who he fancies to win Euro 2008 and put the whole lot on them.
 
You must log in or register to reply here.

.



Club News
Fixtures and Results
League Table
SUFC Ticket Stats
Shrimpers Trust
SoccerBase
SUEPA (Ex Players)
Shrimperzone on Facebook
Shrimperzone on Twitter
Shrimperzone on Instagram


ShrimperZone Sponsors

FFM MSPFX Foreign Exchange Services
Estuary MFF2
Zone Advertisers Zone Advertisers

ShrimperZone - SUFC Player Sponsorship

Southend United Away Travel


All At Sea Fanzine


Back
Top