What to invest £1000 in?

[dogmum00]

Obviously I know I'm not going to make mega bucks from investing 1k but me and my dh each have a 1k to invest for around a year and going to see who does better out of it. He is looking to invest it in whisky. Anyone have any ideas what I can invest mine in?

Interesting question! I'm looking for something better/more interesting to do with my small amount of spare money so will follow your thread for tips .
I've been putting my spare money into premium bonds and have had a few small (£25) wins, it's random luck though.
I also have a little bit invested through the app called Freetrade. I haven't lost anything there but nor have I made anything.
I've heard a few comments recently about investing in whisky. I don't know anything about it, nor do I drink it, so I'd be interested to see any comments here from someone who knows about that. How does it increase in value, it's just a drink?

Can I ask why you are only investing for a year? Do you need the money for something after that?

If you only have a year then it's going to be difficult to find something worthwhile. Generally with higher risk/reward investments there needs to be a longer term to balance the risk. With lower risk, more stable investments any growth would be unlikely to make back any set up costs.

It would be really interesting to do that and note the value at 1, 5 and 10 years.

A year is far too short a time for an investment. You need to be looking at least 5 years, and ideally much longer.

You can get a one year fixed rate bond paying around 4%. That is cash savings really, not an investment.

If you might keep it more than a year, make sure you put it in an ISA because that has no tax.

Sounds like you wouldn't miss the money if it disappeared and this is more competitive than anything.

I'd stick it on bitcoin if you want to go 'he who dares wins'. Potential upside over the next 12 months as a gamble is high. Although 18 months might be more like it.

I'd be tempted to buy as much cheap gold as I could for £1k and see how that fared over a year.

Gold is at a high price now so not a good time to buy although it's a good time to sell.