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bullshit savings account
What does bullshit mean?
You can get 5% for 1yrs from a number of saving accounts. It won't make you rich, but it's safe and inflation beating (for now).
If it was me I'd do that for a year then put the £3k into something like a stocks and shares ISA - depending on what things are like next year.
But if they're risk adverse, then I'd probably look as something, based on what you can get in the market.
The problem I think a lot of people have is when you are talking about small sums is they forget that a reasonable % of a small number = a small number.
They then think it is pointless. But what they forget is that you're really trying to build your pot so that in the future you're earning a reasonable % on a reasonable number. And if you're building your pot somewhere safe, then it may as well not devalue against inflation.
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hugo7
hippy
If you had a spare £250 a month that was previously going into a bullshit savings account, what would you invest it in? Now, obviously the correct answer is beer and bike parts but this question isn't for me.
Options: some other bullshit savings account earning nothing, company share scheme, other share scheme, already has a pension fund, um... I dunno that's where my investment knowledge about ends.