| Best way to start saving money |
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Dexter9
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I am having a baby soon so I want to start saving up money for his college, money for a house and just extra emergency money. What would be the best way to do this? I don't want alot of restrictions, I just want to be able to throw money in, and let it grow.
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Tue Apr 20, 2010 4:37 am |
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MrNewEngland
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quote:
Originally posted by Dexter9
I am having a baby soon so I want to start saving up money for his college, money for a house and just extra emergency money. What would be the best way to do this? I don't want alot of restrictions, I just want to be able to throw money in, and let it grow.
I'd go with "I" bonds. The return won't be that great, but it's safer and guaranteed to beat inflation - and I think being safe with a college education is a good idea. Also when you use them for your kids education they aren't taxed by the federal government.
I'm doing that now. I have a draft set up and I just put put an amount aside every week and have the bonds sent to me monthly.
I also invest in riskier stuff for retirement, but bonds are a nice safety net.
Craig Finn is brilliant.
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Tue Apr 20, 2010 1:41 pm |
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clarissa_vargas
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I like the bonds recomendation I'd rather go safe... Guess I have research to do 
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Wed Apr 21, 2010 12:32 am |
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jason_simpson
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Get rid of credit cards, start living a more frugal lifestyle, don't leave it sitting in the bank, take that extra money and invest it into something that will make more money; dividend paying stocks or dividend re-investments is a way to do this
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Sat Apr 24, 2010 2:18 am |
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egoistic
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For me, the best would still be the simplest - cost cutting and avoiding credit cards, or at least leave it at home whenever you have to go out. It's easier to avoid the temptations of purchasing stuff via credit if you don't have it with you.
Lindsay Rosenwald
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Sat Apr 24, 2010 9:38 am |
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