2007-03-19 08:59:11 · 18 answers · asked by John 2 in Business & Finance ➔ Personal Finance
$700 on black...
Vegas baby, Vegas..
2007-03-19 11:32:39 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you have credit card debt, put it towards that. If you have a car loan, see if you can pay down the principal. If you have any other kind of debt, put it towards that.
If you're debt free, then you could invest it. However, $700 isn't enough to open an account if you don't already have one. If you have some sort of brokerage or mutual fund account, just add the $700.
Personally, I'd suggest saving it for a rainy day (e.g., next car repair). But, if you're debt-free, feel free to spend it on something you need. Do you have a computer? $700 is about right for that. What's your wardrobe like? If you're looking to advance in your career, maybe an investment in some new WORK clothes. Time to replace that garage-sale kitching table with something more "adult"?
2007-03-19 16:06:25 · answer #2 · answered by Jay 7 · 0⤊ 0⤋
Easy, open an ING Direct account and get 4.5% interest on it. Learn how NOT to be the average consumer and make that 700 dollars work for you. At 4.5% APR, if you put in that 700 dollars + a 25 dollar referral from me if you want it, in one year you would have $757.63, provided you don't add any money to it. Since you're asking what to do with $700, I'm guessing in your situation it is free money or a gift or something and can spare it for investment. Do it.
2007-03-19 16:09:32 · answer #3 · answered by Carl M 2 · 0⤊ 0⤋
Put in an ING Savings A/C or Capital One Money Market A/C and try to sing up for automatic investment of whatever yu can even if it is only 10.00 a week. You can easiy do that. Brown bag yu lunch, buy bottled water in bulk and take it from home, or buy a britta and filter yur water and take it with yu. Stop going to hairdresser every week. Wash your hair yourself with a good shampoo and conditioner. Cut yur eating out to once or twice a month. Go for lunch instead of dinner. There you have saved a $1000.00 amonth
2007-03-19 16:51:29 · answer #4 · answered by "Vallamkali" 2 · 0⤊ 0⤋
Depends on how much other disposable income you have relative to what your personal needs are. If you don't really need it right now, then I would recommend opening an ING Orange online Savings account. They are paying close to 5% interest and you can withdraw it from there anytime, no minimums, no restrictions. In fact, if you have a friend with an account, they can refer you to get a $25 bonus just for opening the account.
2007-03-19 16:08:03 · answer #5 · answered by Brynn317 2 · 1⤊ 0⤋
When I was younger, that amount would have bought me an excellent car, however today it's somewhat limited. You can purchase a good bicycle, an old car, or a short vacation. Or you could save it, by making an investment in your future, (ie. Mutual Funds), and watch it grow.
2007-03-19 16:04:25 · answer #6 · answered by Sailinlove 4 · 0⤊ 0⤋
If you have already built up an emergency reserve, invest it in a mutual fund (go for a target retirement fund). If not, save it in a high yield internet-savings account or a money market mutual fund and use it as an emergency fund.
2007-03-19 16:10:51 · answer #7 · answered by prithis 1 · 0⤊ 0⤋
Buy 700 cheeseburgers at Burger King
2007-03-19 16:02:23 · answer #8 · answered by BosCFA 5 · 2⤊ 1⤋
Go to your nearest dollar store and get 500 toys and take them to your local orphanages. Then treat yourself to something with the left over. That would be nice ,but if your like me. You'll need to spend it on bills.
2007-03-19 17:01:36 · answer #9 · answered by muybonita30 2 · 0⤊ 0⤋
Invest it in a mutual fund and watch it grow over the years.
2007-03-19 16:02:40 · answer #10 · answered by Akbar B 6 · 1⤊ 0⤋