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Trying to save money..

Dh and I both make min wage right now. trying to find other work, but in our area it's just not out there. I have been putting 10-20$ from each of our checks in the savings acct. every week. I have a few hundred in there right now. But when I hit 500$ I want to do something with it, put it away somehow. I am just wondering what my best option would be? I don't want to get into something where I have to put in a set amount on a schedule because I don't know if I'll be able to do it. I was thinking about a CD but those seem to have a very low return rate unless you have over 1000$.

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Anonymous

Asked by Anonymous at 3:14 PM on May. 8, 2010 in Money & Work

Answers (3)
  • I m in the same situation I just don't trust banks I want to put my money some where that it will grow and grow but the bank is the only place I know. Unless we bury the money in the ground and pray for it to grow...LOL GL
    Anonymous

    Answer by Anonymous at 3:33 PM on May. 8, 2010

  • You can invest in mutual fund(s). Look into who had the best return last year, and invest in that/those. They do have some risk, but are lower risk than other things. And can come back with a great return. That is what we plan to do with our next step into investing.
    missbreezy214

    Answer by missbreezy214 at 3:37 PM on May. 8, 2010

  • It sounds like you two are in a tough spot right now. Maybe put the money in a CD, or a money market account- but try to keep it very accessible just in case you two need the money for an emergency.

    Check out DaveRamsey.com for more information. Or the Dave Ramsey group on Cafemom. Congrats on saving money!
    Anonymous

    Answer by Anonymous at 8:31 PM on May. 8, 2010

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