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What would you spend this £1000 on?

(81 Posts)
Kateykrunch Tue 31-Jan-23 11:15:49

If you had a £1000 to spend on something to pass on to a Grandchild or other relative, something that would be an investment for their future and might grow in value if they kept it for some years, (It was watching a programme yesterday where someone had had a large amount of gold jewellery left to them that has made me ponder this). I wondered about a Gold Sovereign, what would you buy?

Theexwife Tue 31-Jan-23 11:22:04

I wouldn’t buy an item as it could be unwanted, lost or sold before it becomes of value.

Callistemon21 Tue 31-Jan-23 11:25:07

I'd buy Premium Bonds.

I know they don't grow in value but there's always a chance of a big win.

Gold prices are high at the moment; they could go up or down so I'm not sure that buying at the moment is a good idea.

Maria59 Tue 31-Jan-23 11:33:46

Callistemon21 I have premium bonds for the grandchildren and any wins are automatically used to buy more bonds they have had a few small wins so growing more than in a bank account

Callistemon21 Tue 31-Jan-23 11:36:39

Good idea, of course I forgot you can do that.

grandMattie Tue 31-Jan-23 11:55:49

Premium bonds. They don’t increase in value (they don’t lose any either) but you win the occasional prize and they can be sold should the owner need the money.

Chuch Tue 31-Jan-23 12:00:52

Put into an ISA.

Witzend Tue 31-Jan-23 12:02:09

If it was for a young grandchild, I’d put it in a junior S&S ISA instead, in the hope that it would have grown quite a lot before they access it at 18.
And then of course hope they’ll be sensible enough not to blow the lot on partying etc.. (A little blowing would of course be allowed.)

Witzend Tue 31-Jan-23 12:04:33

Lovely! I adore snowdrops.

Not far from us there’s a row of townhouses with several mature mimosa trees planted in front - the flowers are starting to come out already.

Witzend Tue 31-Jan-23 12:34:23

Sorry, wrong thread above! Mods pls move to Spring is Sprung

Charleygirl5 Tue 31-Jan-23 12:53:34

Possibly premium bonds but one does need a fair number before the wins are regular.

Kateykrunch Tue 31-Jan-23 12:54:00

I was thinking more about an idea for an actual item/s.

aggie Tue 31-Jan-23 12:58:19

I have 8 grandchildren , 5 girls 3 boys , so how on earth would I divide it , or do you mean that much each. ?
When do you give it to them ? Now ? Or in my will ?

crazyH Tue 31-Jan-23 13:06:14

I have 6 grandchildren. I will leave them something each in my Will - not a lot, but something they can spend on themselves. I give them good Birthday and Xmas gifts anyway, as I’m sure we all do.

crazyH Tue 31-Jan-23 13:07:46

Oh I see - an item ? It’s very easy with the girls - jewellery! The boys, it’s difficult …

Georgesgran Tue 31-Jan-23 14:26:36

It’s almost impossible to second guess what something bought for £1K might be worth in future years, as an investment. Looking back, some ‘ridiculous’ collectibles seem to have increased, whereas other more sensible purchases have devalued. I think the only thing that would be almost certain to increase in value is gold - the higher carat the better - so that could be sold later.
As crazyH says it’s far easier to buy a piece of jewellery for a girl, but boys are beyond difficult - 5 year old GS wants me to buy him a car when he’s 6!

Callistemon21 Tue 31-Jan-23 14:28:47

A gold charm bracelet, you can add charms to it for birthdays and Christmas.

Redhead56 Tue 31-Jan-23 16:32:08

We have saving accounts for our three grandchildren I would put the money in there.

crazyH Tue 31-Jan-23 16:35:04

Georgesgran - that is so cute 🥰

Kateykrunch Tue 31-Jan-23 16:40:49

Okay, so….you have £1000, you have 7 days to spend it, you must buy something, an actual item, it will be kept in a glass case/bank/drawer/garage/cupboard for the next 10 years (it will then be given to eldest Grandchild). There are no storage fees, if you have 72 Grandchildren you will have 72 x £1,000 so no-one is disadvantaged/left out. You can give 2 examples to cater for a Male and a Female. I am thinking Gold for both and would do a little research in the 7 days in regards to either a small ingot, Sovereign or Kuggerand.

Norah Tue 31-Jan-23 16:44:24

A percentage to a plot of land.

Germanshepherdsmum Tue 31-Jan-23 16:47:59

I wouldn’t buy an item. All items go out of fashion, become undesirable and lose value. Even the value of gold fluctuates. Premium bonds. Nothing else.

Kateykrunch Tue 31-Jan-23 16:56:47

Norah

A percentage to a plot of land.

Oooo, good idea

Kateykrunch Tue 31-Jan-23 16:59:05

Germanshepherdsmum

I wouldn’t buy an item. All items go out of fashion, become undesirable and lose value. Even the value of gold fluctuates. Premium bonds. Nothing else.

Hi GSM, perhaps its a crossed post with mine a little higher up, the rules have been detailed, you are not allowed to not buy an item, the £1000 is only available for the 7 days, so………

Germanshepherdsmum Tue 31-Jan-23 17:01:12

premium bonds aren’t items?