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What is the best way to make your money grow? I've always been a bad spender and I am now going on a budget


and plan to start saving as much as possible but I don't exactly know what I should do beside put it in the regular savings account I've had since I was younger that currently has 30 cents in it. But there's no fees. Any advise? on this hole saving thing

It all depends on how much risk you want take.

If you don't want any risk I suggest opening a free savings account with HSBC bank online. They are reputable and right now are offering a little over 3% annual percent yield on their savings accounts and it varies. About a year ago they offered almost 6% yield!

A CD is also a safe route. However, you would probably have to invest 1000 or more at once.

A Vanguard Mutual fund is a good low fee mutual fund. They invest in the stock market and make avreage returns. right now the stock market is down (at least on a more long term view of things) So, it is probably a good time to get in. (buy low, sell high is a simple way of looking at it)

You will probably be best served by combining these. Keep money you need in a safe account like HSBC. Money you can take some risk with put in the mutual fund.

open up a roth/ira fund where you put in money and it you can withdraw from yrs from now and the interest rate is not bad considering its not risky...but if you want a quicker return on your investment look into bonds or stable stocks (fortune 500 companies) that you know will grow

Try www.ingdirect.com

I've used it for years. It is an online savings account that is totally safe and they pay a higher interest rate on savings that a bank's savings account. It is easy to put money in and to take it out.

See this advice from the blog of Scott Adams, the author of Dilbert comic strip. He's nailed it.

Savings accounts aren't any better then your piggy bank. They don't even keep up with inflation. Open a mutual fund account and make automatic investments in it monthly. Most banks can set one up for you.

dont know get a summer job

I am in the same boat at the moment and I have had to give up alot of material things in life to be able to get through day by day. As hard as it is we need to spend money only on what we really need. Write a list of the most important things you need and then cut out the rest and you will find that your money will start to grow. Then put that money into an account that you don't use regularly so it isn't a temptation.Leave your cards at home so you don't over spend. Its hard but it works once you set your mind to that change.
good luck

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