College Student with 2k. What should I do?

TheSetMiner

I have 2k of savings in my current account just sitting there. I am a college student so I have a lot of spare time. Can anyone think of a sensible way of investing some, if not all of this money, in such a way that I can be looking at making a decent amount each week/month? Bare in mind I would be happy to put in a lot of hours each week if that's what it takes.

Ideas so far:

**Buy wholesale goods and try to resell for decent profit.**

**Sports Arbitrage betting.**

**Stock markets (not too keen on this - too much risk I guess?)**

**Buy, renovate and sell machinery/vehicles for profit.**

Appreciate hearing any ideas/tips from people with how best to pursue one or more of the aforementioned ideas or perhaps some other ideas on how I could utilise this capital more effectively.

Thanks in advance,

Timmaay

TheSetMiner wrote: »

I have 2k of savings in my current account just sitting there. I am a college student so I have a lot of spare time. Can anyone think of a sensible way of investing some, if not all of this money, in such a way that I can be looking at making a decent amount each week/month? Bare in mind I would be happy to put in a lot of hours each week if that's what it takes.

Ideas so far:

**Buy wholesale goods and try to resell for decent profit.**

**Sports Arbitrage betting.**

**Stock markets (not too keen on this - too much risk I guess?)**

**Buy, renovate and sell machinery/vehicles for profit.**

Appreciate hearing any ideas/tips from people with how best to pursue one or more of the aforementioned ideas or perhaps some other ideas on how I could utilise this capital more effectively.

Thanks in advance,

Not really enough capital 2bh, you'd get alot more bang for buck leaving it in the bank, and get a part time job, at least that is a solid 8/10quid per hr income. Then read up abit about shares/money management/investment etc etc in your spare time to get a handle on it all.

And of all your ideas, I think the stock market is the least risky investment!! Once your money management is up to scratch. Buy what looks like a good cheap car for 2k, you could easily spend 500/1000 on it if your unlucky, and then struggle to sell it for a profit afterwards, you could blow alot of money. A good saying is don't invest in a business you don't know, so until you have done lots and lots of market research on your specific area I'd leave the 2k in the bank.

dinnyirwin

Go on a holiday or two and enjoy it.

TheSetMiner

Timmaay wrote: »

Not really enough capital 2bh, you'd get alot more bang for buck leaving it in the bank, and get a part time job, at least that is a solid 8/10quid per hr income. Then read up abit about shares/money management/investment etc etc in your spare time to get a handle on it all.

And of all your ideas, I think the stock market is the least risky investment!! Once your money management is up to scratch. Buy what looks like a good cheap car for 2k, you could easily spend 500/1000 on it if your unlucky, and then struggle to sell it for a profit afterwards, you could blow alot of money. A good saying is don't invest in a business you don't know, so until you have done lots and lots of market research on your specific area I'd leave the 2k in the bank.

I have been on the look out for a part-time job for a while now but to no avail so far. I guess working from home is a lot more appealing to me too and with a job I am kind of limiting how much money I can make. That said, I would still love to have 8 quid an hour coming in on weekends...

It's interesting you think the stock market is the least risky investment of the ones I mentioned. Sports Arbitrage, in theory, should be zero risk, once you know what you're doing and I made 55 eur last weekend off it after betting about 700 quid online. This isn't going to be sustainable, however, as online bookies don't promote it and are constantly closing a/c's they suspect of doing it!

I have a bit of experience buying and selling on eBay and made a fair bit of cash over the summer a few years ago. I ended up stopping for exams but I might give it another go. I thought it was relatively risk-free but did require putting in at least an hour or two every day, sometimes a lot more.

Buying and selling machinery probably is a little too risky and I think I've talked myself out of that one now!

I'd like to hear how you'd go about working the stock markets with a smallish sum like this. I was under the impression commissions were high, hidden fees cropped up everywhere, stockbrokers were thieves and pricks and the whole thing was a bit of a Wolf of Wallstreet scandal! That said, the lifestyle leo di caprio was depicting would be 2k well-invested haha!

dinnyirwin wrote: »

Go on a holiday or two and enjoy it.

As it happens Ii booked a cheap one for June this summer. This is part of the reason I want to invest something and get some kind of small steady income for myself as there is nothing worse than feeling guilty about indulging!

Still open to ideas anyway. Leaving it to sit in the bank doesn't appeal to me if I'm being honest. I mean we've all got to get rich somehow, right?

OttoPilot

TheSetMiner wrote: »

I'd like to hear how you'd go about working the stock markets with a smallish sum like this. I was under the impression commissions were high, hidden fees cropped up everywhere, stockbrokers were thieves and pricks and the whole thing was a bit of a Wolf of Wallstreet scandal! That said, the lifestyle leo di caprio was depicting would be 2k well-invested haha!

He made money selling crap stocks to investors like you looking for a decent return on small savings. He never actually risked his own money in the rubbish he sold :rolleyes:

IF you were REALLY determined to invest in stocks, but wanted to avoid the minimum fees (You're correct in thinking commissions are high for people investing small amounts) you could do spread trading, which is basically a bet on the way a share price will move without actually buying the asset. Fees are built into the spread too, so the buy price is above the sell price, but you never pay hidden fees. This is leveraged betting though so you could end up losing more than put in! Be careful and do some research, then open a demo acc and see if you're any use at trading

lucky john

"Buying and selling machinery probably is a little too risky and I think I've talked myself out of that one now!"

Is there not hundreds of bicycles on your campus. There must be a few euro to be made buying, selling, repairing them. You need only a few tools a little space and a basic knowledge to work on them.