Where to invest your money apart from the bank

Thanks to unstable interest rates over recent years, you’d be forgiven for being sketchy about putting your money into a bank. The credit crunch and subsequent financial crash of 2007/2008 saw a lot of people losing confidence in the banks. As a result of this, more of us than ever are looking for different ways to put our money away that don’t involve a trip to the bank manager.

If you’ve got some readies burning a hole in your pocket, here’s a few investment options to consider, and you might actually make a bit of money on the side if it all works out!

A car that’s about to become ‘classic’

In the motoring world it is generally accepted that any car that is more than 40 years old is ‘classic’. When cars reach this age, you might find that a lot of them will be off the road, and there are fewer working examples that there were in its heyday.

Insider knowledge is vital when it comes to choosing a classic car to buy as an investment; different models and manufacturers have different levels of desirability. As you’d expect, an old Jaguar is likely to be worth more than an old Vauxhall. That said, some early examples of the Volkswagen Golf have been known to fetch a fair price, so do your research! 

Limited edition whisky

Scotch whisky is a big money maker. The industry is believed to be worth more than £5bn to the UK economy alone. If you’re wanting to get in on this action, then knowing what to look out for can go a long way. Single malt whiskies are generally more desirable than their blended counterparts. You can stuff a bottle of Famous Grouse under your bed for twenty years if you like, but it’s unlikely to achieve the same value as a Talisker or a Coal Ila.

Trying to find whiskies that are only bottled in limited runs is a good place to start, as these will already have an air of exclusivity around them. One of the Islay malts, Lagavulin, for example, releases a limited run of whisky to celebrate the island’s jazz festival. If you spend a little now, it can be worth a lot more, further down the line.

Property for rental

Anyone who has even glanced at an economics textbook will be able to tell you that there is a close relationship between supply and demand. If you look at any newspaper today, you will know that the UK is currently in a position where the demand for housing is vastly outstripping the supply.

This is the perfect situation to get into, if you have the money to buy property and turn it over for rental. Obviously, being a landlord is no easy street. The online guides on what’s required to be landlord are definitely worth a look. If you get tenants in for a long period of time, then you might find that you’re earning money from rent, while the value of your property increases.

Vinyl records

We are seeing a massive resurgence in the popularity of vinyl records. Big retailers like Tesco are even getting back in on the act, as more people shun mp3 and CD formats, in favour of better sound quality. Record collectors are a fickle group of people and many will pay top dollar for rare and desirable LPs.

After the death of David Bowie, the market saw a big increase in the sales and value of some of his classic albums. If you can seek out early pressings of an artist who has a buzz around them, you might find that the value will rapidly increase and you can enjoy the profits!

Introducing our free credit report

Get your free credit report with giffgaff to find out your credit score and info to help you make the right financial choices.

Check your score here.

Comments (0)

Log in or register to add your comment
Log in now
Not a giffgaff member? Register now

Search by category

giffgaff gameplan

Copyright ©2018 giffgaff

Representative example for a loan of £4,000 for 24 months at an interest rate of 15.5% APR fixed. In this example the total amount payable (including interest and fees) would be £4633.57 and your monthly repayments would be £193.07.

giffgaff receives a fee for introducing personal loans to Retail Money Markets Ltd trading as Ratesetter.

giffgaff gameplan is a trading style of giffgaff Limited, we are a credit broker and not a lender and introduce loan applications to its selected provider of loans Retail Money Market Limited trading as Ratesetter. Terms and conditions apply. Finance subject to status. 18s and over. Credit is provided by Retail Money Market Limited trading as Ratesetter, 6th Floor, 55 Bishopsgate, London EC2N 3AS Ratesetter is authorised and regulated by the Financial Conduct Authority – Firm Reference Number 633741

giffgaff Limited is authorised and regulated by the Financial Conduct Authority, Firm Reference Number - 680957. Registered address – giffgaff Ltd, 260 Bath Road, Slough SL1 4DX. Company Number - 04196996.

Posts on this site reflect the opinion of the members posting only, and not necessarily giffgaff’s opinions or views. There’s a lot of information here that can help you, however, you must remember that we operate an open forum and sometimes messages that are posted are misleading, deceptive, or inaccurate. If you follow these tips, you do so at your own risk. Always do your research and check the terms.