then buying a bank CD. All you have to do is fill out some
paper work, invest your money and let the mutual fund
manager do the driving. Try one of these 3 companies.
TR Price 800 638 5660 Vanguard 800 662 7447 and
Fidelity 544 8544. Click on how to invest in a mutual fund.
http://www.ehow.com/how_4516142_invest-m...
Do you have a savings account? It's always good to have a savings account funded in case of an emergency. You never know when something might happen that you will need cash for. Aim for about 6 months worth of living expenses in this account. Once you have this funded, then you can look into some passive, low cost mutual funds.
Putting your money into a savings account isn't going to make you rich, but it will help you avoid going into debt should an emergency arise. Look at online banks that offer higher interest rates than traditional banks.
Question: Do you understand everything about electricity? Does that stop you from flipping on a light switch and taking advantage of it?
You need to understand one thing about mutual funds: they are better than a CD by a long shot.
Go online to vanguard.com and get their phone number or figure out how to open an account. Then buy their short term bond index fund. It has been paying 1-1/2% per year on average with very little risk.
You may want to investigate US savings bonds. You can create an account and buy bonds direct at www.treasurydirect.gov. They are safest.
I have some money in my checking account lying around that I don't really know what to do with and I don't understand stocks/mutual funds enough to want to try them yet.
For now though, is there a better, safer alternative than leaving my money in my checking account?
