2006-12-01 14:09:03 · 13 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United Kingdom
40 THOUSAND not 40 pounds!!!
2006-12-01 14:14:54 · update #1
Very interesting question I think I would invest it.
I would invest in under the principles of compounding or with the aim of allowing the money to grow and double. I would either inverst it in a new business either my own, or buy a failing business to turn around or invest it an a business which was growing.
I would also invest the capital in the stock maket and on the ground that houses sit on. Basically, my aim would be to double and treble the money in 2yrs + I would look at the % return on the money each year to make sure it beat the banks inerest rate if it were sitting in the bank, over and above. I
wouldn't spend it on a car or household luxuries or holidays as they depreciate as soon as their sold to a customer. However, I would use any profits gained to reward myself with a holiday, just from the profits mind you not the original capital.
Thanks for the question was very thourght provoking.
2006-12-01 14:23:10 · answer #1 · answered by dailic 1 · 0⤊ 1⤋
I'd go to the bank and change it into dollars, then deposit it into savings for my Christmas fund.
Oh...is that 40 Thousand pounds? That would be a good house down payment.
2006-12-01 22:11:45 · answer #2 · answered by sarcastro1976 5 · 0⤊ 0⤋
40 pounds is about 80 dollars american so I think I buy christmas presents 4 the folks.
2006-12-01 22:11:28 · answer #3 · answered by evilive 4 · 0⤊ 0⤋
£40K could represent a 15% deposit on two £100K houses, with £10K for expenses, which you could then rent out, using the rent to pay the mortgages. In a year or two, presuming the value of the houses had increased, you could re-mortgage, using the new money to repeat the process.
2006-12-02 09:15:29 · answer #4 · answered by Colbee 1 · 0⤊ 0⤋
if you have debt, then i would advise paying those off first.
Beyond that, if you have a house, it might be worth while extending it - if it increases the house value. Speak to a local estate agent about what you can do. House renovation could yield really good returns.
2006-12-03 18:15:59 · answer #5 · answered by godfather 2 · 0⤊ 0⤋
I would probably use it to buy a house and a car. Then I would use the rest to invest in the stock market.
2006-12-01 22:17:03 · answer #6 · answered by ╦╩╔╩╦ O.J. ╔╩╦╠═ 6 · 0⤊ 0⤋
I would put all of it in GMAC direct bank and collect some great interest. Better than possibly losing money in the market imo.
2006-12-01 22:11:54 · answer #7 · answered by fade_this_rally 7 · 0⤊ 0⤋
£40,000! id buy a house abroad maybe. or clear my families debts, then, being 18, id spend it.
2006-12-01 22:17:12 · answer #8 · answered by april9_rockstar 2 · 0⤊ 0⤋
40 quid? I'd blow it down the local...
2006-12-02 14:00:20 · answer #9 · answered by Bostonian In MO 7 · 0⤊ 0⤋
I'd exchange it for U.S. Dollars then spend it.
2006-12-01 22:11:39 · answer #10 · answered by Perry 1 · 0⤊ 0⤋