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Any ideas to turn your tax money into more money??

 
Anonymous

Asked by Anonymous at 8:39 PM on Feb. 6, 2013 in Money & Work

This question is closed.
Answers (10)
  • Go to bankrate.com, search for the bank with the highest savings and/or Certificate of Deposit (CD) rates where you also meet the minimum deposit requirement. Open the account, deposit money, watch it grow. The online banks have much higher interest rates than a regular bank would. You can also ladder CDs - have several CDs all maturing at different times, when the first CD matures, take it out, reinvest it plus the profit you made into the next CD that matures and so forth. I would advise against investing in any stocks since it doesn't sound like you have that big of refund nor can afford to lose any money. Your savings style should be moderate to conservative, with a focus on preserving principle funds (your original amount). Maximizing on compounded interest is the safest way to see returns. Of course, you have to be comfortable not being able to touch that money for 1-5 years.
    hellokittykat

    Answer by hellokittykat at 10:14 PM on Feb. 6, 2013

  • You know the saying "The best way to double your money is to fold it in half and put it back in your pocket", right? That.
    JulieJacobKyle

    Answer by JulieJacobKyle at 8:52 PM on Feb. 6, 2013

  • Invest wisely
    KristiS11384

    Answer by KristiS11384 at 8:41 PM on Feb. 6, 2013

  • Invest in a small business. I took $99 and turned it into a career!!!
    PartyGalAnne

    Answer by PartyGalAnne at 10:52 PM on Feb. 6, 2013

  • .......
    Anonymous

    Comment by Anonymous (original poster) at 8:45 PM on Feb. 6, 2013

  • Craps table?
    Anonymous

    Answer by Anonymous at 9:03 PM on Feb. 6, 2013

  • agressive mutual fund or black jack.
    jerseydiva

    Answer by jerseydiva at 9:08 PM on Feb. 6, 2013

  • Start a small yet very productive business? If you are wanting instant gratification, well, then the answer is 'there's not one'
    But_Mommie

    Answer by But_Mommie at 9:30 PM on Feb. 6, 2013

  • Well that's what RESEARCH is for.
    KristiS11384

    Answer by KristiS11384 at 9:42 PM on Feb. 6, 2013

  • Oh yea bc with 3 kids. a house to run. a job to work. I got time to research. I get on the computer for 5 mins here and there. sry ur life is so damn perfect that u have time for research/
    Anonymous

    Comment by Anonymous (original poster) at 10:52 PM on Feb. 6, 2013

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