Saving And Investing Your Money
An easy guide to saving and investing money ~Deahnna Dreher
Saving Your Money
Saving your money is very important, whether its your "rainy day" fund, or saving for collage. Having money put up and safe is the best way to ensure it will be there in the future. A good method for saving is putting it into a checking account, where it will slowly but steadily increase, though by very little. Another option is a government bond, which is basically lending the government money that they will pay back with a bit more interest. When saving your money, always remember to have secondary saving account aside from your normal one. This is often called a "hidey-hole", or a place to stash of money only to be used for the most extreme emergencies. Another tip would be to not store it in your mattress. The bank is the safest place for your money, so use it!
Investing Your Money
Investing is a tricky thing. To put it simply, its giving your money to someone in hopes that they will use it to make more money to pay you. The trick is to find the right people or companies to invest in. When investing, remember to research the company. Also, diversify! The more different the companies are, the less likely you are to suffer if one industry type fails. There's many different ways to invest as well. Stocks are most common, but a safer bet would be a mutual fund, which is basically alot of little pieces of lots of companies.