I have 拢2000 to invest. What can i use it for?

Recently, my car was written off and I was awarded 拢2000 from insurance. I have bought a small run around car for less than 拢250 and want to use the 拢2000 to provide the funding for a car that ill buy in about a years time. I am looking for something that can double or even triple (or quadruple??!) my investment in 12 months or so.

I have already opened a savings account and stuck the dough in there but 5% apr is rubbish on a modestly small amount of cash. Any ideas?

No, i wont put 拢2k on red at the local casino - though i did think about it...! Would be sooo sweet...

Anyway any other ideas?

Attempting to double or triple ones investment in the short term involves substantial risk to the principle. Granted, we all hear of stories where someone has done so. We even receive lots of spam 'guaranteeing' such opportunities.

The old adage applies that if it's too good to be true, it probably is.

For a short term investment, either say with the savings account or consider investing in a broadly diversified mutual fund such as one of the larger cap, mutual funds. Find a no-load fund, i.e. no entry or exit fees and fair management charges. Check www.morningstar.com as well as the fund itself.

//

Tags

　　Investment Company 　　Investment Calculator 　　Investment Bank 　　Investment Advice 　　Investment Account 　　Invest Money 　　Invest in Gold 　　Invest Fund 　　Income Fund

Related information

MS Money wrong ameritrade cash balance?

Did you change a password on the account recently? Money has been known for missing things every once in a while, and sometimes I just have to go to Ameritrade site and download the activity manual...

Where can i go for onlione stock trading?

No amount is too small to invest, especially if you are starting when you are young. The thing with investing lower amounts is the brokerage fees you have to pay in order to buy stocks. For example...

Are there banks in Singapore that provide Medallion Signature Guarantees?

A medallion signature guarantee is a special signature guarantee for the transfer of securities in the United States. It is a guarantee by the transferring financial institution that the signature ...

Mutual fund IRA rollover vs. Roth IRA : which is the better move?

You are not able to do this type of rollover because when you contribute to a 401k or a traditional IRA these funds are contributed on a pre tax basis where as a ROTH IRA funds are contributed by m...

In the article 鈥淲hen Worlds Collide鈥?the opinions of three thinkers,Thomas Friedman,john Ralston Saul and Je

The left is not dieing, it's dead! The left wing protests ALWAYS are aimed at gaining political power thru deception. Eg: the anti smoking & obesity political issues are not about health ...

PPF and NSC and its accrued interest?

1. PPF interest is Tax free 2. NSC interest is taxable (Income from Other Sources.) 3. Yes. The PPF maximum deposit in a year is Rs.70,000 4. NSC accrued interest (80C) comes under Rs.1 lakh lim...

I want to buy stock/share for $700 but I dont know where is cheaper??

I will refrane from giving you my opinion of Walmart. To get right to your question. Use Scottrade. $7.95. Do not close the account and take delivery. That is very expensive. I think they ...

Anyone Heard of a company called "NES_Corp"?

Definately a scam. Its a way thieves use to "laundry" money. By the way, their is a legitimage NES Corp, but they are recyclers of wood waste and yard waste processed and distributed fo...