How do I boost my already small savings.
Okay I started saving not too long ago and my money has been adding up, but I was wondering if there are things I can do to boost my savings.
Do not buy anything and keep building when you reach around the 2,000 dollar mark think about investing. On the other hand if you are about 500 dollars and still want to invest buy penny stocks. If you are not looking to invest and you want future money by savings bonds at least you can earn something. The main key here is to look at your goal and maintain it. Saving for a home - save for the home do not buy a car.
I suggest that if you think you want to buy penny stocks practice first on some sample investments. Watch them carefully to see if they grow and maintain their increase. I lost money last year in penny stocks and was following one of those Penny Investing newsletters.
If you haven't got much, the best thing to do is put your money in an online high interest savings account (with no fees). I'm not sure what kind of interest rates you can get where you are, but here in Australia for example, you can get about 6.01% on your savings.
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