MADE BY KRECHELE BROWN
Saving money is a smart option, you never know if we are going to go into depression again, or when you are going to need money the most. The best idea to help keep control for you money that you want to save, or just somewhere to put it would most likely be in a savings account. You don't get much interest, but it is a low risk and you can get your money whenever you need it! Another idea for saving money would be in a CD or a savings bond. A savings bond would have to be started form when you were younger and then you could get into when you were older and needed it. A CD you can choose how many years you want your money in there, you can get it out when you want it, but there will be a consequence and you will have to pay a fund for it. Both of these are time based, but they have more of an interest than a savings account. They all are good ideas for when you want to save your money.
Investing your money is very risky. Sometimes you may get a lot of money from it, but you also have just as much as chance to loose a lot off your money. You can invest your money into a lot of things. But if you are to invest, the best way would be invest in a lot of different things, not just one certain things because that business may shut down and you will loose all your money, but if you invest in different things then you have a chance of making all that money back. A way to invest your money would be in stock. Investing in stock would be basically into companies. there is a very big risk on that, but you also get a huge return. It isn't really easy to get your money whenever you want it, it basically depends on how the stock or company is doing. Another thing to invest in, is property. Investing in property, you can get your money very easily and there is a high interest rate, but the downside is that there is a high risk.
Some of our ideas:
Putting your money into stocks, or accounts is actually a good idea. People think that if you invest your money you will loose it all, but that nessicarily isn't the answer! You can loose your money, but also you can make more money than you put in. Putting your money in an account is basically if you don't want to keep it at home on your own, because you will loose it or spend it. You can make more money just by keeping it in an account. Investing your money or keeping them in an account can be a good thing.