 What would you do with 1 million dollars? |
| how would you spend one million dollars frivilously?... |
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 Im 13 and need to earn money? |
Im currently saving a for a new surfboard but need some extra cash. My parents dont pay pocket money and im too young to get a job.
Is there anything I could do to get some more money?
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 What should i buy with birthday money? |
| got 500 dollars to spend , i have a comp, ps2, other than that i need ... |
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 If I make a payment on my car loan every two weeks do I save money on interest and pay if off faster? |
| I am trying to find out if I make a payment every two weeks on my car do I pay off the car faster and save on interest instead of paying it once a month... and how do I determine how much I am saving ... |
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 Very bad financial situation: PLEASE HELP? |
I have a very bad credit rating. When i say bad i mean B-A-A-A-D.
It started when i turned 18 and the temptation to get store cards was too much for me and I got 3 at once and was given ... |
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| I can afford to pay my Gas and electricity untill tomorrow and...? |
i got a letter through yesterday saying that if i dont pay it immedately they are going to cut me off how long after that letter it sent out do they usually give you until they cut you off??
A... |
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 Easy 10 points!!!? |
| My dad is an engineer, a general manager. It's taking us 30 years to pay off our house and it's worth about 400,00. How much do you think my dad makes.... |
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 My husband's name is not on any of my credit cards. If I die, is he responsible to pay the debt? |
Additional Details
OK, I understand about the estate thing; my estate would be responsible for the debt. But we do not own anything jointly except one small savings acct. So I have been ... |
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 How can I save money on groceries? |
| We are moving into our own house and I know that the first time buying groceries is very expensive because you have to get all the basics that you needs ( cleaning stuff, spices condiments, ect) we ... |
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 Is it possible to be too rich? |
| Wondering if I would be happy earning a fortune....... |
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drcswalker | What to do with £13K inheritance? |
I'm 34 and an educated scientist, though I'm clueless when it comes to money and wheeler-dealings. What should I do with £13K? Not a lot I know, but my best thought is to stick it in a high interest account (4% or so in the UK) and wait for old age :O( |
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Hotel Tango
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Depending on your financial status, risk profile, needs and investment horizon, if you don't need the money for the next 5 years or so and are willing to expose to financial markets, I would
1) pay off your debts/loans/card bills,
2) top up your Maxi ISA allowance immediately if you haven't already done so,
3) put the rest into online instant savings paying at Bank of England rate, e.g. Egg (not ING Direct since they recently decided to trail BoE rate by 25 bps)
4) then come new tax year in Apr, sweep the rest into the ISA allowance for the next year.
As to what to invest in with your Maxi ISA allowance, ETFs (exchange traded funds) are great since they track indices and has very very low management fees, and can be bought just like shares. You are of course exposing yourself to the volatility of shares.
Otherwise if you are risk averse, stick with 3... |
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fluxpattern®
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I would recommend you join this site (free) for to the forums and ask the people who really know what to do, you`ll get great information.
all the best with your windfall.
p.s. have a look at the other link below. |
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jimmaharvey
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Being that I do not know your situation there is no reasonable answer for your situation. The only thing I can tell you for sure is that you should not take financial advice from random people on the Internet.
Advice like: Pay off all your debt is too general, while in theory it looks like a sensible choice it might not be the best thing for you. What if the interest you can gain investing is greater than that you are being charged with? What if the debt is your mortgage, and you can write off the interest on your taxes?
If you really want to know what you should do with your inheritance then ask a professional. They will give you the advice even if you just wave the money in front of them in hopes that you will place the business with them.
Short of that, if you are planning on taking advice from the other answers on here, you might as well send the money to the people who said they will spend it for you... it will do you just as much good.
Hope that helped |
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SHADOW
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Well if you have a someone in your family like a Child or something who you trust or if you trust your wife etc...
You could put half of it into her / his whatever name(s)... that way the Government cannot touch it as it'll be classed as a Trust Fund or something like that...
Or you could just invest it into different banks around Europe possibly... ^-^ ... that way the British Government wouldn't have any claims to it!!!
I know all this because of my Uncle who's high up in Politics!!! =) ...
It's up to you at the end of the day but I'd most probably just Bank it and save it... But then again I don't like spending nor does very many of family!!! =p hehe...
Good Luck BTW mate!!! ^-^
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~SHADOW~
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catsmeatuk
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Pay off debts; the interest rate on debt is bound to be higher than the interest paid on money in the bank/building soc.
Left-over cash? Invest, but make sure you have some which is easily accessible in case of disasters.
But do allow yourself a bit to have some fun with! As the saying goes, there are no pockets in shrouds. |
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jseah114
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That would be a safe and stable investment. If you are more open to risk then you can invest it into high growth investments, but the potential for higher returns also comes with higher risk of devaluation. It all comes down to how risk adverse you are. |
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john c
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buy some premium bonds, you have a chance of winning some cash, whilst you decide what to do with it... that way, you lose nothing, but have a chance of winning up to £1 million. |
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Jess Wundring
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I would take between 5 and 10% of it and reserve it to blow on something I would really like but would normally forego (for me, it would be a trip to another continent or more electronics).
I would take 20-25% of it and salt it away somewhere accessible, like the high interest account you mentioned, as a rainy day account.
The remaining 70% I would invest, either as a down payment for rental real estate near my home (if you can find anything suitable), or to start/partner in a shoestring venture (if you have a potentially lucrative hobby), or in the stockmarket (if you learn abit about it and look at companies with products that you appreciate).
Of course, paying down your mortgage can also be considered an investment.... :) |
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Chris
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Spend it before the govenment get their grubby hands on it. |
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Lucy Chik
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pay off debts firstly, and buy new technology and THEN invest, or buy technology after. or invest and spend as please. |
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naz
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Buy a property or land in any one of the new EU countries -
eg. Bulgaria? and sit on it, and watch your money grow. |
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sheila_0123
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I agree with your strategy. Keep it...roll the interest over into the savings account. Compound interest happens! |
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Caroline
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First pay off any debt including credit card debt etc.
Then put down a substantial deposit and buy a property.
If you already own a property, then find a financial advisor (reputable) and ask advice. |
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S
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How about sending some to me. I would make good use of it for you. :O) |
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kellymclean99
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i say give it to me and some of the money would go to my wedding next year and the rest i would put to my house.lol. |
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