Where Save your money ?

@advokatku (4041)
Indonesia
October 25, 2010 3:31pm CST
The conventional way of saving money is in the bank, though a bit but there was bank interest which can increase the amount of money we save. However, we do not escape the tax and bank charges. So if calculated, saving money in the bank not good way even make us losers. However, excess save money in the bank keep may not be denied, the funds in an account can be taken whenever you want. How about we save the gold? If you're saving for - say - USD 200 per month, you may be able to buy gold, which amount corresponds to the value your money which want you save. At present, widely available gold coins that can be purchased in the amount of one gram only. Or save money in the form of investments like mutual funds. Mutual Funds are a form of investment where your money will be managed by a team of investment managers to invest in various investment products. To be able invest in mutual funds, could begin with a total minimum funding requirement of USD 100. huuuuuh, a lot of options how to save money, but I was still a lot of debt
12 responses
@hushi22 (4942)
26 Oct 10
i save my money on my savings account in the bank. i also have a savings on my other wallet but what i put there are all euro and pounds because i only have a peso and dollar account.
@advokatku (4041)
• Indonesia
26 Oct 10
save money in your wallet? ... I think it's not a wise way to save money
@lusimin (71)
• Indonesia
26 Oct 10
buy the government obligation... your money will save cause government is hard to get broke..
@advokatku (4041)
• Indonesia
26 Oct 10
yes, buy the government bond issue is one smart choice to save your money, almost no risk, but unfortunately there minimum amount not yet reached by my financial
@angelic123 (1112)
• United States
26 Oct 10
first you have to think of your goals, why do you save money. are you saving for short term purpose like having a vacation abroad or buying a new cellphone you should invest in a low risk investment like Cash deposit. If you are saving for college of your 10 year old daughter you have a medium term goal, so put your money in a medium risk investment like bond or mutual fund but if you are investing for retirement and you are in your 30's it means you are on a long term goal you can invest your money in stocks. I heard about penny stocks and it's a good way of investing money because you will not need a large amount to invest. I think vanguard is a good place to invest money. They have different options where to put your money. And you can start for a minimum of 500 dollars. but mostly the minimum is 3 thousand. If you are still in debt try to budget your monet by cutting out unnecessary purchases, like dining out or buying new clothes, perfume, shoes, etc.
@advokatku (4041)
• Indonesia
26 Oct 10
Good advice, friend .... I will follow instructions and your suggestions
@mensab (4208)
• Philippines
25 Oct 10
i think i am very conservative and traditional. i still keep my money in time-deposit savings account. it is said that they are safe because they are insured by the government. i have not tried any other ways of investment. i think i need to study and learn more before i do invest in those things. i am just building my savings, so that i can have a secured future.
@advokatku (4041)
• Indonesia
26 Oct 10
your correct, and that means you enter the stage of learning recognize and build your financial capabilities. Do not quickly seduced by gentle persuasion regarding investment products are conservative, if you're not yet familiar with working procedures and their performance
• United States
25 Oct 10
I've been investing any extra money in to precious metals for a while now. Mostly Silver bullion. Its a very safe market that seeing strong gains. I began buying at under $15 per oz and its recently been at $24 per oz and close to that currently. Its easily acquired and can be held in hand and has actual value unlike our fiat currency which is losing value daily. I've seen a 40% gain in less than a year. I highly recommend looking in to it for anyone no matter what their budget may be.
@advokatku (4041)
• Indonesia
26 Oct 10
really very interesting what you convey, friend .. please tell me or explain where we could invest in precious metals, particularly on Silver bullion. Honestly, I have not heard before. What this same investing with gold?
• Canada
25 Oct 10
With many banks, especially if you have been a customer for a long time, you can negotiate for lower fees. And shop around; various banks have different kinds of accounts to meet your needs. I have a high interest savings account which pays more interest because I have to wait one day if I want to take any money out, and because all the banking is online or by phone; no banks with live tellers. Don`t forget GIC`s. The interest is less than mutual funds but is a guaranteed rate, and you can pick some that are only one or two years so your money isn`t locked away forever.
@puccagirl (7316)
• Israel
26 Oct 10
That is great advice, RebeccaScarlett! Most people do not shop around for banks, but use the one they have always had, which is why they get stuck with such crappy rates.
@dodo19 (19851)
• Beaconsfield, Quebec
27 Oct 10
My husband and I have a high interest savings account. It is with the help of this account that we save a few dollars. We don't have a lot of money in this account, but we're hoping that eventually, we'll be able to put more in, and therefore have more saved up, within the next few years.
• India
26 Oct 10
i think of investing in a stock market in brands which are performing through decades and i do not experiment new brands in the stock market because of the risk involved. but if we invest in reputed companies in the long term we get higher and better results. but if you are a very safe player then you can opt for purchasing gold or special bonds which are equivalent to gold and it is also very profitable.. overall i had deduced that money attracts money
• Philippines
26 Oct 10
I don't rely much on savings account through a bank because the interest rates are incredibly low. I just tuck in enough for urgent and unexpected spends. I also maintain a mutual funds investment. There are times you win, at times you lose. Lately, it was a win for me because the value rose 4 or 5 x higher than what I get from interest from a regular savings account. Mutual funds has some amount of risk but better returns when the economy is good.
• China
26 Oct 10
I will save the money in the bank
@puccagirl (7316)
• Israel
26 Oct 10
I still prefer the bank. You know there are many different kinds of savings accounts you can choose from, I have 3 different types myself so I think the bank is a good option because of that. I get okay interest in all these 3 accounts. And most other investment methods are a tab too risky for me, to be honest. So it's piggy bank and bank all the way for me!
@Hatley (130650)
• Garden Grove, California
26 Oct 10
what money I am retired on my social security and ssi and the retirement center g ets most of that so what money can I save It is a great idea for younger people but us older ones do not have that kind of money as a rule. I mylot to be able to enjoy having my dear internet and my mylot he he.