What can I do with my 15,000 euros?

[RachelDB]

Hi there,

I've got a small sum of savings (about EUR 15,000) that I just don't know what to do with...Im only 21 and so I reckon if I manage to make the right money moves now I could help set myself up in the long run but I really know nothing about investments and don't know what would be the best thing to do and how to do it..any suggestions and advice would be greatly appreciated!

Thanks.

 

[ClubMan]

What are you saving towards? When will you need the money? Do you have any debts?

Read the key posts including the AAM and IFSRA guides to savings & investments. Check out the guides on www.itsyourmoney.ie

At the very least stick it in one of the high rate deposit accounts listed in the Financial Best Buys forum while making up your mind - e.g. < €15K in FA eSavings @ 5.22% gross CAR and maybe any excess in Halifax FlexiSaver at 5.15% gross CAR on up to €10K for the first year. If you can lodge (e.g. wages) €1.5K p.m. to a current account then Halifax current account pays 10%+ gross CAR on balances up to €2K.

 

[Gautama]

Hi there,

I've got a small sum of savings (about EUR 15,000) that I just don't know what to do with...
Thanks.

As you don't know what to do with it, I'd recommend putting about €14,500 in a First Active eSavings account, keeping the balance below €14,998 (that way you'll earn the max 5.22%, keeping your nose ahead of inflation).
Put the rest in a basic savings account with an ATM card so you can access it.
If/When you've decided what you want to do with it, ie save it, invest it, spend it, pay debts, check out this forum again.