Spare Cash - Where to put it in a Financial Crisis?

Discussion in 'Finance, Property, Law' started by MrShanklysboots, Oct 13, 2008.

Welcome to the Army Rumour Service, ARRSE

The UK's largest and busiest UNofficial military website.

The heart of the site is the forum area, including:

  1. A quick precis.

    The BH has had a windfall that is going to do all the usual things, pay off credit cards / chunk of mortgage etc etc.

    The thing is there will a 5 figure amount left over. Now £1100 will be topping up an ISA (cash), and some of it is intended to do next years contribution to the same ISA.

    Whats the best use of the cash left over?

    Where do I put it so that it is:

    a. Safe

    b. Getting a little something back?

    Any ideas (other than "My beer fund") welcome. Ta.
  2. under the mattress?
  3. Curses! Beat me to it. This does, however, seem to be the only place where it's not likely to dissapear overnight (unless the other half finds it).
  4. What about gold? Seems to be popular just now and sovereigns are easy to swallow if the bailiffs come calling.
  5. Auld-Yin

    Auld-Yin LE Reviewer Book Reviewer Reviews Editor

    Send it to me and I will recycle it. Keep the world happy now and recycle as much as you can.
  6. blue-sophist

    blue-sophist LE Good Egg (charities)

    That's a safe as anywhere, IMO, at the moment. Returns may be limited compared with some other options, obviously, but you could be lucky. Depends on attitude to risk, and how quickly you might need to recover the funds [it can take a week or so, IIRC].

  7. So should I go into Argos and blow it all on Elizabeth Duke or go a bit more upmarket and go to whatever Ratners are calling themselves these days?
  8. Just done that myself, bought £10,000 worth of premium bonds as that amount won't earn a fortune in interest but I might get lucky and win more than I would have got in interest and premium bonds are guaranteed.
  9. Grownup_Rafbrat

    Grownup_Rafbrat LE Book Reviewer Good Egg (charities)

    I never understood the logic of that. The ten shilling premium bonds bought for me when I was born are still no doubt worth 50p. However, you can't buy as much for 50p now as you could back in the day. And I have won absolutely jac-nothing on them in all those years.

    Likewise the ones bought in the 'investment club' I joined in the late 70s have also won jack-nothing.

    Probably not a good investment, imho.
  10. I agree, not a good long term investment. I'm only going to have them for a year.
  11. I don't want to sound like I am turning this into a p1ssing contest (girls ask your b/f and he will explain) but I have had £20k in premium bonds for about 6 months and have won 7 x £50 prizes but still hope to win a big one. A guy I worked with recently won £10k from only £483 in bonds - he did however have this £483 in for about 20 years. You pays yer money and you take yer chances.
  12. blue-sophist

    blue-sophist LE Good Egg (charities)

    There is a degree of luck involved with ERNIE, and your luck increases with the size of holding.

    Mrs B_S and I have large holdings, and over the last 12 months have an annual return of 3.6%+ tax free. And there was only one big win (£1000).

    And it's safe ... 8)
  13. Vintage vehicles, they make money and only you know about them.
  14. I'd suggest, as others have, tangible commodities - especially gold. Depending on your risk appetite, you might choose to have a punt on Barclays and Santander as well but I'd be very, very careful with that.