Start Investing on a Tiny Budget

If you know you ought to be investing/saving for your future but say to yourself "I don't have the extra money to spare" you are reading the right story. Often the world of investing/saving can be intimidating causing many to give up on their dreams of financial independence. I will show you several opportunities for investing starting with the small amount of fifty dollars a month, yes fifty dollars is all it takes.

Thefirst option I would like to explore is the bank. I am not referring to the local one on the corner but for the best rates look into on line banks. They often times have the lowest fees or no fees at all because you are not paying for the building and the teller. The accounts are easy to open, many have ATM cards associated with the accounts, and have strict security measures. Make sure the on line or virtual bank you choose is FDIC insured. These are the leading Internet banks, look them over and see if their services are right for you First Internet Bank at firstib.com, ING Direct at ingdirect.com, Lighthousebank at lighthousebank.com. Remember to do your research, don't make in hasty decisions but do get moving the sooner the better.

You may have heard of the method being called a savings club. You often find them associated with banks or at your place of employment. This is how they work, the club has a specific purpose such as vacation club or Christmas club, etc. You contribute a set amount to this club monthly and you are not allowed to access this money but at certain times. So if you are the type of person who blows your savings or starts each new year in debt from Holiday shopping this type of investment option my be for you. With this method you may not actually make any money but having this savings option in place can help keep other savings options in tact.