An alternative to borrowing to invest (Well kind of)
Instead of taking a loan, why not get a 0% interest credit card. Sainsburys 29 months.
That way you use it for your day to day spending it then frees up your whole salary for FI.
0% APR so assuming you spread your risk across a few players and the website doesn't go bust you are on a winner.
29 months is enough time to pay a little back at a time through profits and dividends. I sold Welbeck at £1.13 yesterday and bought back today at 98p. £15.00 profit without reducing my portfolio (If only all trades were that easy).
Again only risk what you can afford to pay back in the timeframe.
ocs123 last edited by
It's risky, but a good idea that is likely to yield profits as the Index grows.
Like your thinking on Welbeck too, which has prompted me to buy 100 futures in him. I don't really rate him as a footballer, but £1 is a ridiculously low price for a 27 year old forward at a biggish club. At some point this season he'll have a great game (perhaps when Arsenal batter a poor Premiership side at home, as they often do) and he'll spike in value again. He's the same price as a 30 year old Paulinho, who's playing in China!
do you know what the limit is on the sainsburys card?
Listen anyone borrowing to then gamble has problem , do not get credit cards do no take loans out enjoy what you can afford and don't put your future at risk
@NewUser145896 thanks for your concern, but everyones personal situation is different. Nothing wrong with an informed discussion regarding the best way to maximise returns on FI.
I took out a 0% credit for 36 months ! 12k limit boom made me 3k growth already in 3-4 months. Risky however I believe in the index
Matt FI last edited by
This works best if you always keep some emergency funds in cash which you don't want to use on FI.
For example you have no spare money except £5k of emergency savings.
So you take out an interest free CC with a £5k limit. Once you hit the limit via regular monthly spending you should now have £10k of savings. The extra £5k can be used on FI. Worst case scenario you somehow loose it all...well you still have £5k savings to pay off the credit card when the time comes.
If you literally have no money then taking out a CC to invest is highly risky...how will you pay the card back if FI falls apart?
@NewUser137607 who did you get that credit card with?
Tesco’s, through money supermarket