How to Invest Your Money Wisely

Alright so you've saved up some money and want to get a big return on it instead of going on a spending spree. Fantasic! Investments these days aren't just for the incredibly wealthy people. Even if you have thousands or a few hundred dollars saved, here are some simple to follow suggestions to make the most of it.

1. Open A Brand New Savings Account. First off shop around and find the best interest rates. Certain saving accounts can be opened with as little as $10 to get started, others require a minimum balance of $100 in order to avoid monthly service fees.Also you can open up a money market account due to the fact that alot of them have check writing privleges.

2. Go On Open a CD. With a certified deposit you will more than likely earn more interest than a savings account. To open one you will need at least $1000 to start with and you will pay a penalty if you withdraw the money early. Be sure you know what the interest rate is and what are the penalities are if you decide to open one.

3. Build A CD Ladder. Purchase multiple CD's with set of terms so that some will mature each year, or every few months, and if you don't need the money at this time then it can be rolled back into the longer term option for higher rate.

4. Buy A Stock. Alright if you have some money you can get along without for at least 5+ years or so, consider high risk investments such as stocks.

5. Consider Placing Money Into a No Load DRIP. With a Dividend Reinvestment Plan you can save a little money everymonth in the stock markets. There are a few companies that have programs where you can invest your money directly with them, without a broker, or brokerage fees.

6. Save Your Change. Any change you find or get you should place it in a jar and when it gets full deposit it into your savings account you will be amazed at how much you will get out of your pocket change. For instance my sister saved all the change she got back and gathered over $3,000 in one year!

7. Set Money Aside. Try to set at least 3-6 months of living expenses in a low risk bank account once you have that you can consider something longer term after that.