How should I invest it? What's the best way to turn that amount of money into more?
2007-02-01 02:29:26 · 8 answers · asked by hot carl sagan: ninja for hire 5 in Business & Finance ➔ Investing
crack
2007-02-01 02:33:10 · answer #1 · answered by dexter 3 · 1⤊ 0⤋
If you're not already in some sort of investment program, the first thing I would do is put it toward any outstanding credit card debt. If you don't have any debt (good for you!), maybe you could open a money market account with EmigrantDirect.com. You can open an account with them for as little as $1, and the current interest rate is about 5.05%-not too shabby for a $100 deposit.
2007-02-01 10:34:28 · answer #2 · answered by SuzeY 5 · 0⤊ 0⤋
If you have a job with 401K, put it in there. If you don't have a job with 401K, save that $100 until you do and put it in there. Your employer will kick in a small percentage of that 100 into your account, and that money will be yours too. Both your $100 and your employer's contribution will then earn compound interest, all for you.
Don't buy stocks with it. The commisions will eat up half your money.
2007-02-01 10:35:46 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Best to worse,
Pay extra to your highest interest loan(credit card):
Buy something that you know someone will buy from you at a profit:
Insulate around the windows or fix a leaky faucet:
Insurance cost for cars are reduce if you pay six month in advance:
Buy a tool that you can use to make you more productive:
Put it in the gas tank to get to work:
Buy precious metals, you get to spend it twice:
If you fell lucky you could go to a casino and play black jack:
2007-02-01 10:41:04 · answer #4 · answered by rob u 5 · 0⤊ 0⤋
Most investments cost more than that to get in. Save it, Add to it, and do that on a regular basis...While saving, start reading up on various investment vehicles and the riskes attached to each type
2007-02-01 13:14:26 · answer #5 · answered by bob shark 7 · 0⤊ 0⤋
You can find good, valueable investments by looking at www.economicinvest.com
They provide good research, and investment philosophy for very reasonable rates.
2007-02-01 12:17:38 · answer #6 · answered by redfearn_jc 2 · 0⤊ 0⤋
spin the wheel on a penny stock or go to the casino. Bet Red
2007-02-01 10:37:53 · answer #7 · answered by Cy Gold 4 · 0⤊ 0⤋
You would have to get lucky...find a cheap stock you think may rise a few dollars in next few weeks...and hope..
2007-02-01 10:33:48 · answer #8 · answered by William D 1 · 0⤊ 1⤋