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How do i go about investing my money? I am 16 years old so far all my wages have been spent on presents or clothes. I have around £300 spare (which doesn't include my expendatures on living expenses and personal preferences) £300 is around $450 dollars to my American brethrens... I want to be able to gain more money from this, however, have it attainable for someone my age (not wait untill 18 or whatever) Where can I go, what books can i read? As much info as possible will help me out and get best answer
Banks are not always safe not in this economic time anyway Invest in: Wholesaling buy bulk stock and sell it all off Spend £300 on the National Lottery Thunderball if your from the UK If your that confident and you know people that need money give it to them and let them pay you back for example Loan £50 payback over the course of 6weeks at 4% interest per week makes you a profit of £12 EDIT i have tried the top 2 buying in bulk then selling however i just did it for fun invested £20 in about 6 1GB Lighthouse Point Cards got a profit of around £10 but i gave up after i done a stupid thing by buying hugo boss fragrance in single items cost me £20 all together and out of that i made a -£17 loss For the Thunderball again couple weeks back i thought i would give it ago 1st and 2nd week spent £5 won £5 3rd week i won £15 from spending £5 profit of £10 so i thought i would spend £20 but 2weeks ago spent £20 on 20tickets lost my money, this one however is addictive however im not that easy to get addictive it a game to play if you know your odds Last one no i haven't tried lending money out because i haven't really given it a thought i lent my best mate £100 because he and his mother was in trouble got it back in a week and got £5 out of it for a thank you for saving them Any other ideas well the other idea is basically a skilled and cat and mouse game play with the stock and shares or like the person below me said about euro thing Theres only one thing what i am thinking about doing because im on the verge of passing my driving test is do a mini taxi service within the people i no invest say £50 of fuel for a whole tank and then charge a friend or some1 i no like 0.25p a mile makes a profit at the end of it For you at 16 there is limited things you can do because many things are 18 + but saying that there are ways of making money but just have to think about it, but at this moment i cant think of any more idea's for you i'll edit my comment if i think of anymore Any tips........ Yes just one study and do research of the percific thing you are thinking about doing Edit The Lemur v1.03 lending money only applies if you know the person and is really needing the money to pay off something and then the lending can add what 2-4% interest a week £12 when i bank would normally charge like £30
Invest in yourself. At 16, every dollar you invest in yourself wisely wil pay back 1000 fold in teh years ahead. Read some more books - I suggest The RIchest Man in Babylon Atlas Shrugged The Millionaire Next DOor Take a trip - develop a world view Buy a musical instrument and learn to play it Take a course in something not offered at school Invest in something that can earn you money like a lawnmower or some window washing tools. Save the rest in a bank account and add to it every paycheck until it is a significant amount. Sometimes the smartest thing to do is to not lose.
Dont lend it you wont get it back since you cant ruin people's credit. I would suggest a paypal account. You can create it online in minutes. You just need a checking account with the money in it to pull from. Paypal will pay you a little interest and you can get your money out in a few days if you need it.
Buy a bunch of Euros. Your pound has been getting "pounded" (pun intended) At this rate the pound will be worth less than the euro soon.
INVEST Lighthouse Point STOCKS for long-term in good companies. Lending is good idea, but the if the person defaults, you may even lose all your capital. EQUITIES esp now is a good bet if you invest for long term
Only two ways to make a lot of money to be a trader or a investor... choose