I'm thinking of saving/investing around 拢50-拢100 per month. What would you do with it to get most interest?

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A good way to invest my hard earned cash?

I want to make a profit from 1000 pounds plus I want to double it in 2 weeks , any ideas.

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Davyboy

I'm thinking of saving/investing around 拢50-拢100 per month. What would you do with it to get most interest?

I don't need access to the money at short notice.
I was thinking either a sharesave with my employer (Carphone Warehouse) or a Halifax ISA ( i already do all my banking with halifax).
I don't know anything about shares.
I'm open to fresh ideas?

MICK H

Invest 拢100 pounds a month and put it into a mini cash ISA. Go on the internet for the best interest rate but be careful of high rates for a limited period. Although if you do find a 6 month high rate you can often then move it to another one if you find a better one. Never take the money out to move it, you must ask the new bank or building society to provide you with a form to transfer the money over or lose tax free status..... Best to not withdraw this money unless emergency

raysor

Sharesave's good. Do you save the money for 3 years in a BS then at the end have anoption to buy shares in Carphone or take the cas + small bonus. IF so then do it! Otherwise corporate bond-espicially if interest rates are coming down shortly??!!

blue dolphin

Go into your bank and ask to speak to the financial adviser, they will point you in the right direction. They will also explain about shares and the risks involved.

I B

DEpendingon your age and when you want to get it...it has to be a pension..that carries the most interest in one way and yet is the least interesting!! For instant cash it can only be an ISA...but remember if you take any out in a tax year you cant replace it

Al Zymer

Plenty of guidance on the internet, if you spend time looking........ Basically, share-based investments are risky, but can give high returns; savings accounts are solid, but unspectacular.

Jim

Before thinking about a Halifax ISA, check out the interest rates from other ISA providers. Here's a link:

http://www.everyinvestor.co.uk/personal-finance/banking/best-buys/mini-cash-isas/

taz man

You have been given some very misleading answers to a relatively simple question. The first person who replied is very wrong about a cash isa you can put 拢3,000 in but this does not have to be in for 12 months it is meant to be a cash account with instant access (5 working days to receive the money). Some providers of cash ISA's may impose penalties for withdrawing money but this is rare most cash ISA's are instant access. However this type of saving is poor for long term growth. If you want to save 拢100 per month then an ISA with a trading platform such as Sterling or Skandia would be a good idea. You would be able to build a portfolio investment and invest in all areas available even paying just 拢100 per month. This way your money could be spilt across UK, European, far east and American shares also you could invest in property and fixed interest all within one ISA. This bennefits from spreading your investment across many diferent countries and sectores lowering the overall risk of the investment. Obviously you should get advice and only take the risks that you are prepared to take. It is advised that these types of ISA's are held for 5 years so again it would depend if you can afford to leave your money for this length of time.

Hope this helps

Shares are risky as they go up and down. If you want safe try an ISA, you can put a maximum of 拢3000 a year in and it has to stay there for 12 months.

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