How can I go about investing small amounts of $?

Question

I am a stay at home mom, and I have an extra $75 a month I'd like to invest/ Actually, as long as the money is working and making money, I don't care if it's invested or where it is- as long as I get a return on it.
I live in Ontario, Canada. I'm interested in stocks, bonds, mutual funds, etc, BUT I don't know much about them. If I do invest, I'd like the investments to be ethical, environmentally investments. I was putting $ into a savings account every month, but then my bank manager told me it makes barely any intrest unless I have $5000 in there (yeah right!)...
I cannot afford to pay a broker or a financial advisor, and I'd like to invest thru my bank (CIBC).
If you can give me some pointers, I'd really appreciate it. As I said, I'd like to make the most money I can with only $75 a month. Thanks!!

Answer 1

If this is for long term (10+ years) investing, and since you don't know much about the subject, then stock mutual funds may be your best bet. Most mutual fund companies require an initial investment of at least $500 (many $2500). But if you can afford to have a minimum of $50 per month (each month until you reach their usual $2500 minimum) electronically transferred from you bank account to them, the T. Rowe Price family of mutual funds will let you invest with them. They have (in my opinion, and the opinion of many others) many fine funds to invest in. Go to www.troweprice.com for more information.

Answer 2

That's a great goal. However, you should establish an emergency fund in cash first if you don't already have one. This will help you get through if you have an emergency that affects your income. Most financial advisors suggest keeping 3-6 months worth of regular expenses. (I've been laid off three times in six years, so I can tell you how important this is!)

Once you've done that, look for a good mutual fund. That gives you professional management and diversification over many different companies and industries, even if you are starting with only small amounts. Stock funds are best for long term growth but a balanced fund (stocks and bonds) can be good if you don't have a tolerance for risk. Stocks have tended to go up in the long term, but don't forget that they can go down in the short term. The only problem is that most funds have minimum initial investments of $1,000 or $2,500 unless you are opening an IRA. As a result, you may have to save up for while to meet the minimum.

I suggest that you check your bank's products carefully before investing with them. Many banks offer only their own proprietary products. These may be mediocre or poor performers with high fees. The bank will recommend these because they make lots of money on them. You want to make lots of money for you! Choosing a poor performer will cost you a lot of money in the long run. Someone else mentioned T. Rowe Price in an answer. They are a good choice. Vanguard and Fidelity also have a lot of good funds with low fees if they are available in Canada.

I also suggest picking up a good book on basic personal finance or look for a class at your local community college or adult ed program. There's nothing like a little knowledge to help you make smart choices and become a successful investor.

Answer 3

Binary options let users trade in currency pairs and stocks for various predetermined time-periods, minimal of which is 30 seconds. Executing trades is straightforward. The system uses user-friendly interfaces, which even an 8 years old kid, can operate without having to read any instructions. But winning trades is Not easy.
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However, does it make any sense? Can every trader make tons of money in binary trading? Who is actually paying all the money or the profit to traders?
The first challenge is finding a trustworthy binary broker; secondly, you need to find a binary trading strategy, which you can use to make profits consistently. Without an effective trading strategy, there is no way you can make money in this business.
Learning a profitable trading strategy is possible, You should watch this presentation video https://tr.im/16635
It's probably the best way to learn how to win with binary option

Answer 4

In binary options you will have the possibility to predict the movement of various assets such as stocks, currency pairs, commodities and indices. Learn how you can make money trading binary options https://tr.im/zgZFS
An option has only two outcomes (hence the name “binary” options). This is because the value of an asset can only go up or down during a given time frame. Your task will be to predict if the value of an asset with either go up or down during a certain amount of time.

Answer 5

the best trading software http://tradingsolution.info
i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.
if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.

Answer 6

try a high-yield savings through online banks such as ing direct.
http://www.ingdirect.ca/en/
they pay close to 5 percent.
when you get a bigger pot of money, find a discount broker such as e-trade.