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| *The Commerce Journal>>>Personal Finance |
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. 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 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. |
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