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Money Investing. 10 points for best answer?
I am in college and I work for a minimum wage. I would like to start saving $100 for every paycheck. Savings account doesn't work for me because I always transfer them when I have the urge to shoppe. Right now, I am really trying to improve my life. I plan on doing some small business too. So, where can i invest them? please give me some tips.
I'm not really worried about retirement. I'm only 19. I just want to save money for a capital to start my own business. Right now, I have plan to start my own small handmade jewelry business. I already invested $100 for supplies. I am just scared that things won't work, and I am still unsure of how everything works.
3 Answers
- Anonymous9 years agoFavorite Answer
A debit order into a growth fund*. Easy to get out when needed, but to much slep to withdraw just to spend. (a waiting time of x weeks.)
Peace.
Could also invest in money bonds for a certain period, like 5, 10, 20 years or until you reach a certain age. Those are pre-planned specifics. Car, house, trip overseas, college education for 1, 2, 3, 4, 5,10, 15, 29, etc. kids.
Now you really need .....peace!
Source(s): Retired Accountant. - RobLv 79 years ago
if in USA , invest in a 401k retirement fund.
u will not be able to touch it till u retire.
it will return more than most other ventures
at your age.
as for cash find book Total Money Make OVer
by Dave Ramsey. read study apply info.
will allow u to control the child part of u that
believes in spending for 'junk' as pleasure.
your best investment is your education.
as for business, read 48 days to work u love,
dan miller to find out what u want to b when grown up.
that will save u some decades of life lessons.
good knowledge is good luck.
Source(s): business owner , 6th reincarnation - smahadevan39Lv 79 years ago
As you have already investing for business, it is better to keep the amount in Savings Bank account to maintain liquidity.