Lux Investing

Any good advice for a Piggy bank saver who wants an in to beginner investing? ?

what are some ways beside the conventional savings account to save money and earn interest?

Public Comments

1. Well from what Ive seen every time you can make a purchase save the change in a piggy bank my mom did that for about a month and she bought a 30GB iPod! So basically Follow that and save extra money you earn from allowance or odd jobs.
2. online banking. it yields a higher interest rate than a normal bank. also the liquidity is not as great as a bank in your hometown so it will be harder for you to take it out, giving you a greater chance of saving and compounding interest. but not too hard to take out. try something simple and trustworthy at first like putting your money in a paypal account. this has around a 3% interest last time i checked and most banks have around a .5% interest rate. that's point five % not five. hope i could help. :)
3. Personally, I'd look for an investment club that will let you in. You learn how to buy stocks and you invest as a group. It was a tremendous learning experience for me. www.betterinvesting.org.
4. Stay in the piggy bank. Cash is king. When you build up approx 3000 dollars than open a Vanguard account and invest in stocks and bonds.