Andy0432 :
Also what would happen if i just simply installed windows 8.1 on the new ssd and booted it up along with the hdd while the hdd still had the os on it?
As long as you select the SSD for installation, it should not touch the HDD. However, you would have to reinstall everything, including programs and games. Your data such as pictures and music would remain, and would still work fine.
I would personally recommend this, as it gives a fresh install and can remove some junk from your PC and make it run faster, aside from the boost given from the SSD. The only drawback to this is you have to reinstall all of your games and programs.