i've got $500 from my tax refund. what is the best thing to do with it?

Question

Should i put it in a savings account or invest it and where should i invest it to get maximum return

Answer 1

First invest in knowledge, it all starts in your mind, take some investing and motivation courses.

Answer 2

Use that for repaying the credit that has highest interest %. If you are out of debts, I think you should consider some investmet fund. If you look for maximum return, you also have a high risk. Choose some fund investing in India then.

Answer 3

Invest? Are you sure? Are you out of debt? Do you have an emergency fund? Are you funding your retirement accounts thoroughly? Are you investing for your children's college? You ought to do all these things before you even think about starting some other random investment.

I follow Dave Ramsey's "Total Money Makeover" book. It has been a godsend. Give it a shot.

Answer 4

You might want to do a couple of ladder CDs with it. You'll get a good return on the interest and you can keep rolling them over. You could even take the interest off them at the end of the year and start another CD with that. Talk to a banker.

Answer 5

Open a brokerage account at Scottrade and invest in the ETF DIA.

Answer 6

If you have any debt, pay that off. If you don't, contribute to a Roth Ira with 70% of it. With the rest, split evenly between a gift for someone you love, a gift for yourself and a gift to your favorite charity. If you want to read about the destructive influence of debt, please see my website. http://www.fredstown.com/acne.html

Answer 7

Send it to me!! I promise you I'll spend it wisely and you can feel good knowing you've made someone else feel good! ;)