I would only have like 300 dollars to work with and I would like to know the best way to make money with only the 300 dollars.
2006-12-21 18:14:12 · 7 answers · asked by Anonymous in Business & Finance ➔ Investing
Opt for any 'get-rich-quick' scheme, and you will lose even the $ 300/- that you have !
But, place it in a Fixed Deposit in any reputable Bank - and it will earn you a modest but secure sum, as Interest.
2006-12-21 18:24:27 · answer #1 · answered by CoolVibe 4 · 5⤊ 0⤋
With that small amount of money your options are severly limited. U S savings bonds are one option. Another option is a mutual fund that accepts a small initial investment. One such Muutual Fund company is American Funds. The beginning investment amount is $250. The company caters to small investors. Here is a link to one of their funds that you could invest in.
http://www.americanfunds.com/funds/details.htm?r=h_c&fundNumber=1
In particular note the expense ratio. It is very low for this type of fund. But also not that the fund has a front end load.
Besides this fund they also have other funds that you can invest in.
Now if all you want to invest is $300, save yourself the effort. It is not worth it. If however your $300 is just the beginning and you will be adding an addional amount on a monthly basis say $25 a month, then this fund would be a good vehicle for you.
2006-12-22 06:04:26 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You can definitely learn how to invest with $300. I applaud you for wanting to learn.
I'd start with Carlson's book, "Buying Stocks Without a Broker." You buy a single share in large companies that have Dividend Reinvestment Plans and then you keep reinvesting the dividends. You don't need to go to one of the membership services to do so, although it might help at the start. Try www.dripinvestor.com or www.moneypaper.com if you want, but you can just buy a single share through one of the online brokerages, too.
Alternatively, to learn more, you could join an investment club that will allow new members to start without buying in. Try going to www.better-investing.org to find a club in your area or some training they offer on how to buy stocks.
Good luck!!!
2006-12-23 02:24:03 · answer #3 · answered by Katherine W 7 · 0⤊ 0⤋
choices are aplenty when it comes to investing... one such is currency trading and available in 24 hrs a day... take a look at www.fxcm.com, for example. There are also many systems available in the market to provide tips as well but do observe their terms and conditions.. take a look at http://www.prosignal-forex.com/index.php?ref=1342 for example. hope this helps!
2006-12-24 12:36:41 · answer #4 · answered by myluckykk 1 · 0⤊ 0⤋
mutual funds and govorment bonds i would say. but take 100 and get some books so you understand stocks and stock options then invest the left over 200
2006-12-22 02:21:23 · answer #5 · answered by Anonymous · 0⤊ 0⤋
300 please. Just blow it on booze and women.
2006-12-22 04:05:27 · answer #6 · answered by Anonymous · 0⤊ 1⤋
CD
2006-12-22 02:21:14 · answer #7 · answered by ? 7 · 0⤊ 2⤋