What to do with daughters $1k?

[rock 10]

My daughter has a 1000usd in her savings account. Whats a good investment for this meager amount? If possible, I'd like to be able to liquidate if need be since we are a young family without much savings.

[Soultrader 12]

Just speaking out loud here but she could start a website and look to grow it. Short term fix might be purchasing rare items to sell on ebay. Quick triple up if done right. (ive delt with alot of rare sneakers in the past. Former ebay powerseller too lol)

 

For college students, simply purchase used textbooks from students and resell them on amazon. I used to make a few thousand at the beginning of each semester just selling books.

[rock 10]

Soultrader, yet you make me feel small time. :p I used to sell on ebay and textbooks as well. I was no powerseller. I hustled a lot of car parts back in the day. I actually sold the texts on campus. I don't even know how to stay competitive on amazon and its getting tougher to sell books.

 

Hmm...whatever happened to my ambition?!?!

 

I prob would buy new landscaping equipemt in exchange for a large return but my wife won't allow it. My 4 year old would then be purchasing a AAA bond of dad.

[brownsfan019 17]

Since this is obviously money you need quick access to if need be, just buy a short-term CD or find a good savings/money market.

 

One grand of your daughter's money is not to be played with. Be a man and play with your own money. Your daughter's is just that - hers.

[notouch 10]

My online savings account gives me 6.05% AER and the Bank of England base rate is only 5.5%! Instant access too. Look at a comparison site to see what bank offers the best rate where you are.

[rock 10]

Yeah, I was looking into those online savnigs accounts. I doubt we willl need it for an emergency esp since it isn't much right now. The real reason is because in my family we have always had personal savings to dip into for business, but I'm not sure our family culture will continue this way with the younger generations. It's just been embedded into my way of thinking or perhaps even more so I may have an inner feeling to save the money where it is a low risk.

 

I've actually been considering a long term treasury bond since she has enough for a $1k bond now but I'm not quite sure I understand the valuations in the long term.

 

Anyway, just fishing for ideas.