Invest or save?

@snam23 (3161)
United States
April 27, 2010 11:41am CST
So it is almost the end of the month and I am hoping to get paid by myLot in May as I am close to reaching payout again. Over the past few days, I have found sites (mostly forced matrices) that seem like a good place to invest in as well as the Paypal Money Market Fund. I am wondering if it is worth joining these sites and investing in them as I have never been a fan of investing money online. I am also skeptical about the Paypal Money Market Fund. What do you think I should do? Spend the money and invest or save it for later? I want to make more money quickly (not just GPT or PTC sites) as my earnings have been stagnant due to my lack of activity and referrals. However, I do not want to be scammed and lose any money. You can read a review about Paypal Market Fund here: http://www.mymoneyblog.com/archives/2007/09/paypal-money-market-account-review-is-it-safe.html Thanks for all your advice in advance!
3 people like this
9 responses
@mysdianait (63942)
• Italy
27 Apr 10
Your dilemma is the same as mine. I am not using my online earnings for anything offline and I don't know what to do with them to make them earn more rather than just sitting there. I re-invest a part of them but I would like something more secure for longer too. I am investing $50 every two months in a programme which gives me 25% interest after each investment. I have been doing that since last July and it is working really well but i want something else too. A long time ago someone here suggested Paypal Market Fund asnd I was almost convinced to use it. Now you have put me off again
1 person likes this
@valkerion (1831)
• United Kingdom
27 Apr 10
So, where do you invest these $50?
1 person likes this
@mysdianait (63942)
• Italy
27 Apr 10
Affiliate Borrowers International. It is run by a Lotter, a friend for years and all the information can be found in my profile. The payment proofs are not up to date (but they will be in 10 minutes).
1 person likes this
• India
27 Apr 10
really? Congrats to that lotter!!! On second thoughts, to you too...
• Philippines
27 Apr 10
sometimes you need to invest things in order to save something like. investing a restaurant, gaining more clients work for it's marketing and production then when you have money you have to save for your future used. You know guys we have so many things in our minds, we have to save for our security like medicines, we have also to save clothing's and shelter. What good thing we possess is a good planning and a good budget thinker.
@snam23 (3161)
• United States
28 Apr 10
I think you are right. I guess I will save my money instead of spending it. I just wanted it to grow when I don't work. But thanks for the great advice!
@paula27661 (15900)
• Australia
28 Apr 10
I like to save my money in my PayPal until I need it. I earn very little and it takes ages so I don’t like the idea of possibly losing the little cash that I earn so I don’t take the risk and keep my earnings as extra pocket money instead. It is up to the individual and, as you know care needs to be taken. Neobux I hear is realiable although I've never tried investing anything there...
@paula27661 (15900)
• Australia
28 Apr 10
Oops...typo alert! Try reliable
@snam23 (3161)
• United States
29 Apr 10
I wanted to save also but I bought a game (developed by a Indie programmer) and spent some on ebay. I guess I never really thought of the money in Paypal as "my cash." I just want to spend it before it disappears by itself. However, I will try harder to save money like everyone else! I've tried investing in Neobux with my Neobux balance and it didn't work out so well. It was my first time investing in referrals so I guess I kinda screwed it up. Good luck with Neobux if you decide to invest. I would research before doing it though, just to be safe.
1 person likes this
28 Apr 10
I don't think I would ever invest unless I was investing in shares in a company I worked for. I would much rather save in a Bank Account or ISA and watch it grow like that.
@snam23 (3161)
• United States
29 Apr 10
Yes, but bank accounts are a hassle for the situation I am in (and I'm under 18 also.) Anyway, I think I have found a trustworthy site to invest in. But you're like, I should be more discreet in choosing where I spend my money.
@earnnings (1297)
• India
28 Apr 10
yeah me too close to get paid from mylot...i will definitely save for this month because i have ve hard time to earn very little now a days buddy. So, definitely i will save for this month's payment. If you are more keen about the market funding job then try it. All the best
@snam23 (3161)
• United States
29 Apr 10
I think I will be like you and save. I think we are both earning less online than before. I don't think I will try the Market Fund, but will let everyone know how it goes if I decide to try it. mysdianait mentioned a site that requires a small investment to let your money grow. I think I will join that site once I can afford. It seems different than other sites. Happy mylotting and good luck to you also!
• Philippines
28 Apr 10
It will be much better to save than to invest in something you are not sure of. There are still many ways to invest your money in safe way and not online. You can invest it in mutual funds for example but investing it online is a bit dangerous, you will never know if it is scam or what.
@snam23 (3161)
• United States
28 Apr 10
I know that and this is why I started this discussion. The thing is, I earn all this "extra" money online and withdrawing it into my bank account is not an option right now (for personal reasons). However, if there is no trusted option online, I will take your advice and save instead.
@hora_fugit (5373)
• India
27 Apr 10
Investing is a good option when you know what you are doing. Here I think you don't trust those things. So better save it. I am giving a thought to rent some referrals in neobux(and never recycle them) but that will be from my account there. Online or offline, I always tend to save but if a convincing offer is there.... then my offline money can have some free air!
@FrugalMommy (1450)
• United States
27 Apr 10
My PayPal account is enrolled in the money market fund. The return is so low now I haven't gotten dividends in almost a year. If you want to invest, it'd be better to choose something with higher returns. Online savings accounts are a good place to start. When you have a larger amount, you can move the money to a CD that pays more.
@snam23 (3161)
• United States
27 Apr 10
Can you tell me more? (PM me if you prefer to keep this private) The main question I have is, if you can spend and receive money normally, why wouldn't anyone enroll in the program? But I guess the low returns are not enough to even get paid. The problem is, I would have to open a savings account at a bank to use it online, unless you know a bank in the US that lets you apply online. I think most banks use online banking with a savings account you make at the bank. I hate opening accounts because it can get pretty complicated when I'm not a US citizen (but living in the US) and still under 18. I wanted something to invest my Paypal money so that it would grow. I guess online savings account is still the best choice.
@laurahen (597)
• Canada
27 Apr 10
Personally speaking i don't invest my money until i have been a member of that specific website for a good chunk of time. That way i know that i can trust the website and invest my money. It also depend on how much money you are going to make. Personally I like to save my money. I just don't trust that many investment site on the internet. Best of luck!
@snam23 (3161)
• United States
27 Apr 10
Yes, that is a rule I follow also. Except, I feel like saving my "extra" money I'm making won't be very useful until it grows. Do you just leave your money in your Paypal account or withdraw it to your bank account? Thanks for the advice! It was very helpful!