im considering borrowing ten grand to invest in blue chips on some advice from a friend, is this a good idea to invest in the future like this?? and other Q's are things like back or credit union.
im under no financial pressure and have no debt i live with my family and could pay off the debt as i live at home , id love to hear your advice tips, exp etc, im very new to stocks never done this i hear threes some risk but blue chips ( WAT EVER THEY ARE ) are safeish?
please help .s
so if investing in shares is bad what would be a good investment?
1. Your friend clearly has no concept of risk.
2. Since investing is something new to you, e.g. you have no idea what you are doing, the odds are you will not only lose money, but you will owe high interest on the debt.
3. I would encourage going to school, or staying in school and get an education. Especially focus on writing, grammar and spelling. This will be a far more benefit to you long term than any other investment.
Borrowing money to invest is generally not a good idea.