I want to get out of the poverty trap and intent to buy a catering type van for the summer so thinking caps on. Will be back to let you know how i get on.
2006-10-23 01:04:50 · 8 answers · asked by earth8ngel 2 in Business & Finance ➔ Investing
Keep it safe, look for something with a guaranteed rate of return such as a savings account or a mone market account. Add to it whenever possible and when you get enough to meet the minimum required investment look for a good balanced fund that will manage your investments. A balanced fund is a fund that invests in a set percentage of stocks and bonds. They manage the investments so that you don't have to.
2006-10-23 01:22:39 · answer #1 · answered by waggy_33 6 · 0⤊ 0⤋
Put it in the bank. You're not going to rent a catering van for that much let alone buy one.
If you want out of the poverty trap get a job learn to live below your means. Save your money. Read a lot of magazines about money and investing, so you start thinking more of money as a multi-purpose tool rather than just something to buy stuff with. As your bank account grows think about better places to put your money to invest. Reading all those personal finance mags should give you plenty of ideas.
BTW: Borrow the magazines from the library or read them at the library and you're already finding a way to cut your expenses.
2006-10-23 01:20:29 · answer #2 · answered by Edward J Wolf 2 · 0⤊ 0⤋
That's not a lot of money to start with, but remember. Money makes money.
Learn a bit about investing first. Visit http://investing.hammocksurvivalguide.com/ for some really useful articles on investing. When you have accumulated more money, the information will come in handy.
2006-10-23 11:03:45 · answer #3 · answered by Brian W 2 · 0⤊ 0⤋
I think you may have meant 5K which is $5000
and i "d invest it in secured Cd's(Certificates of Deposit)they give a better rate of intrest than most banks and are secured...besides you can keep them in the market for 3-6-9-12month periods and not tie up your money...for long terms
2006-10-23 01:36:57 · answer #4 · answered by Bxrock 2 · 0⤊ 0⤋
you want to get out of the poverty trap for 5 pounds? Ok then...hard resources to work with...but here it go....
Invest the 5 pounds in getting yourself a good outfit and look for temp agencies and just do temp work until you get enough money to get your business running...
2006-10-23 01:08:17 · answer #5 · answered by typical_123 2 · 0⤊ 0⤋
How about a nice hot meal from McDonald's?
but are the £5 enough for extra fries?
2006-10-23 01:08:57 · answer #6 · answered by AG 4 · 0⤊ 0⤋
£5 will not get you very far, it would buy you a van, but only a toy one
2006-10-23 01:07:25 · answer #7 · answered by REAPER_ENTERPRISES 5 · 0⤊ 0⤋
for all the more that amount can do you may as well buy a lottery ticket & cross your fingers
2006-10-23 02:05:12 · answer #8 · answered by Tired Old Man 7 · 0⤊ 0⤋