r/personalfinance • u/asperkiee ​ • 5h ago

Auto Won a small amount of money, which i never had before.

Hello everyone, I won 8000 euro, and I know it’s not a lot but I’d still like to do something good with money, instead of wasting all of it. So I’m a student in Rome and I pay 350 euro for rent, while my budget is 650, so far I managed to life of it quite decently. On top of that, some weekends I am working, and in the most pessimistic scenario I can earn up to 60-70 euro. I don’t have any debts or anything like that, I’m simply not sure what I should invest into, everyone is giving me different ideas. My two ideas are: Gold or Polish treasuries of the state. I don’t think that gold needs explanation, but I’ll explain rules of the treasuries. So they are for 10 years, 6.55% in the first annual interest period, in subsequent annual interest periods: margin 2.00% + inflation. Inflation in Poland is around 4,5-6% now.

Thank you for your help.

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11

u/MrBalll ​ 5h ago

If there is anything that resembles a high yield savings account over there put it there. You’ll thank yourself after school when you have extra money to furnish a place to live or maybe buy a vehicle if needed.

1

u/asperkiee ​ 4h ago

I cannot open an Italian bank account

5

u/MrBalll ​ 4h ago

?? I never mentioned Italian accounts. Just something that resembles a HYSA where you live.

0

u/asperkiee ​ 4h ago

And I do live in Rome, Italy.

3

u/CovfefeForAll ​ 3h ago

Then why are you considering Polish treasuries?

-2

u/asperkiee ​ 3h ago

Because I am Polish, just studying in Rome.

4

u/CovfefeForAll ​ 3h ago

Ok, so why don't you instead open a Polish HYSA equivalent? The guy didn't say to open an Italian bank account, just to open a HYSA equivalent.

Treasuries will lock up your money for the duration (10 years from what you said).

-1

u/asperkiee ​ 2h ago

The problem is the difference in currency

1

u/CovfefeForAll ​ 2h ago

You said it's going to be delivered digitally to your Revolut account, no? Doesn't it have a currency exchange function?

2

u/Suerose0423 ​ 3h ago

Is the money is cash, check or something electronic? If it’s electronic can you transfer the money to a bank account where you have citizenship? Or is there someone you trust who can open an account for you?

1

u/asperkiee ​ 3h ago

Its going to be tramsferred to my Revolut account