Saving for the deposit on a new home can be very difficult, and especially so now that lenders are demanding larger mortgage deposits in the wake of the credit crunch. Of course, putting a certain amount into a high interest savings account will make the job slightly easier, in that the money will be safe and grow in value over time due to interest, but this will only work if you are relatively close to having enough money for the deposit in the first place. Traditionally, the stock market has always outperformed savings accounts as a vehicle for capital growth over long periods of time, but the uncertainty in the financial markets has scared off many potential investors.

However, there is a way to make money from both rises and falls in the stock market, that may prove to be a better investment in these troubled economic times. It is called spread betting, which is essentially a way of gambling on the performance of shares, commodities, and indices, without making any form of direct investment in the stock market. So, for example, if you think that the NASDAQ is set to take a tumble, you could bet against it. If the value of the NASDAQ were to then fall, you would receive your stake back plus a return on your bet that is in proportion to the size of the fall. Similarly, if it were to rise, you would receive a portion of your initial stake back, and the amount of money you would lose would be the same amount you would have gained if you had bet on a rise.

You do not need to be a stockbroker to spread bet on the stock markets – in fact, as long as you are over 18 and have access to the internet, you can get started right away. Simply register with a spread betting website such as CMC Markets, and start betting on the stock market. However, it is a very good idea to do a little research and learn a bit about the stock market before you dive in, as unless you know a bit about what you are betting on, you will probably make a lot of bad judgements.