How to Invest Small Amounts of Money Wisely
Investing isn't just for the wealthy. Almost anyone can devote at least a little money to investments, keep close tabs on it, and wind up with more money than he or she started with. If you have a few thousand dollars or even a couple hundred you don't need right away, here are some suggestions on how to make the most of it.
Note: This article assumes that you're looking to grow your money over time and are willing to take some risk rather than just saving your money in no-risk, low-yield savings accounts and CDs. It is also assumed that you already have an emergency fund set aside that includes enough money to cover normal living expenses for eight months should your income end suddenly. It is further assumed that you have no high-interest debt, such as credit cards. You would be further ahead paying off such debt rather than investing your money (because there are virtually no investments that would pay you as much interest as you would typically spend in carrying high-interest loans and other debt).
Note: This article assumes that you're looking to grow your money over time and are willing to take some risk rather than just saving your money in no-risk, low-yield savings accounts and CDs. It is also assumed that you already have an emergency fund set aside that includes enough money to cover normal living expenses for eight months should your income end suddenly. It is further assumed that you have no high-interest debt, such as credit cards. You would be further ahead paying off such debt rather than investing your money (because there are virtually no investments that would pay you as much interest as you would typically spend in carrying high-interest loans and other debt).
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