Where I’m investing my money in 2009 – Part 1
So far my adventure has earned me over £2000 which I currently have sitting in a current account paying next to nothing in interest so it’s time to start thinking about making this money work for me.
Now normally the stock market is a good place to look for good returns but given the current instability in the markets I’d prefer to invest my money into something a little bit safer.
Now you might not thinks banks are as safe as they were but seeing as the Government seems to be guaranteeing all savings they are still a safe bet. However interest rates have plummeted in the last three months from paying an average of 2.46% in September to just 0.81% in December (Source: Bank of England). And it’s likely to only get worse as this is before January’s 0.5% interest rate cut.
