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    moonlamp6444's Avatar
    moonlamp6444 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 28, 2008, 05:51 PM
    Investment? Savings?
    If I only have $50.00 per month to invest or save, where should I put it?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #2

    Apr 29, 2008, 05:58 AM
    First thing is to make sure you have an adequate cash cushion in place. In general it is recommended that you have the equivalent of about 6 months of wages in cash savings before you start worrying about investing in stocks, bonds, or other riskier investments.
    ISneezeFunny's Avatar
    ISneezeFunny Posts: 4,175, Reputation: 821
    Ultra Member
    		  
    #3

    Apr 29, 2008, 06:13 AM
    Put it in a savings account (try to get one that has no minimum, allows you to withdraw at any time, no service fees, etc)

    I agree with ebaines that if you're able to afford $50 a month, stocks/bonds/mutual funds are a bit out of the question until you've made yourself a decent cushion in case of a rainy day.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Apr 29, 2008, 06:48 AM
    There is really no way to answer this. There are a number of factors like your age, investment goals, risk tolerance and more that would have to be answered.
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