Where to put this money

[onlyoranges]

I have around 7 thousand invested in shares. I do get some return but only a couple of hundred pounds a year. Could I be doing something better with this money? Any ideas?

I make that about 3%. You can do better, just:

open a club lloyds account and put £5k in that at 4%
open a TSB Classic plus account and put £2k in that at 5%

set up standing orders between the two to meet the paying-in requirements. Set up two direct debits from the club lloyds account.

£300 interest per year before tax. You may be able to get the interest tax free depending on income.

still bugger all, but a 30% increase on your previous bugger all!

of course your shares may rocket in value. Or may not.

Thanks for that. I know its a fairly small amount but wanted to review the situation to see if it can make a bit more.

Alternatively you're welcome to put it in my bank account...

well that is so kind of you! I am a little confused about my return though?

I'd get you a nice bottle of wine as a thank you gift

Mmmmm you are not selling this arrangement to me

decent bottle of wine works out as better return than many accounts!

A few bottles of wine would definitely work as an incentive to choose X student account over Y

DO you have any profit from the original investment? e.g. say I bought £7k of shares 3 years ago which have risen 12% overall plus the the annual dividend so much better return than bank. Re- investing dividends and regularly contributing to shares investments is meant to be overall better longer term than putting in a bank account, especially at todays low rates. However there is also a risk that your original investment goes down. Depends on your attitude to risk. I have made some really good returns on shares and taken losses on others.