Lux Investing

$500.....how can i invest this wisely?

i finally have some extra money! how can i invest this wisely in case of any emergency in the future.

Public Comments

1. Put it in a high yield saving account that yields 5% or higher. Keep it up and make it a habit. Good habits are hard to break.
2. just spend it!
3. Some smaller banks have a $500 CD. The rate is usually better than 5%, and sometimes you can get a better deal just by asking. (Like 7% or so.) This is better than the rate of inflation, and better than a savings account where you may be tempted to use it for something. Just keep rolling it over and watch your dough grow!
4. open an account in zecco, tradeking or sharebuilder!
5. You may consider opening a secured credit card with the $500. You can use it to build credit, and get it back at the end of the term.