How does this sharebuilder investing work? I'm new to investing and i need to save up!?

Before you do anything, learn about different investments, such as those you mentioned, stocks and bonds. What I would do is to find the advice of a financial advisor and tell them your situation. They can help.

Stocks are simply part ownership of a company. When you buy shares of stock, you're essentially buying a part of the company. A bond is simply a loan to a borrower with a promise to repay that loan to the lender usually with interest. Educate yourself first on stocks and bonds and how the correlate to each other.

But here is the site you're looking for. http://content.sharebuilder.com/MgdCon/Jump/Web/we...

You might want to even look into a 529 college savings plan. It is the only account of its kind that has a tax-deferred and tax-free feature to it. You can use this money tax-free for college expenses. This might be your best bet as far as college savings. Good luck.

http://individual.troweprice.com/public/Retail/Pro...

I have used sharebuilder 5 yrs and recommend them with no problems.

If you want to trade then 9.95 in and sell out 9.95 total of 19.90 round trip.

Dollar cost averaging they say is 4.00 but I always get a 1.22 fee added

do not buy the packages (just go with the free one) unless you already make most of your income daytrading.(which is very difficult to do)

Dollar cost avging buys in tuesday you pick which week of month/ whether one time or weekly-bi weekly-monthly. One thing I really like about this site from personal experience is they flag some stocks that you can get on etrade or ameritrade if a company has a new trend history of under performance. (sub 1-5 dollar share and losing money)

No matter what way you look at it, it is cheaper to buy in but about the same to sell out. 9.95 1-1000 shares and a few cents each for any shares above 1000. With no account fees to eat your money/Low price withdrawal/Very secure website. (They have made me change pin about 10 times in 4-5 yrs ...mandatory safety)

I use them instead of etrade.

But basically you save in an account of money market funds that pay

small amount of interest every month. You could use this site sending in just 5 dollars a week. When you are ready to buy, set up your dollar cost avging purchase plan and turn it on.

I hope this helps.

Try reading a book called The Motley Fool Investment Guide for Teens. It will explain stocks and bonds for you, and help you make informed choices on investing. I commend you for your idea to save up for college - good luck!