Investing today is a very scary thing. Although there are fantastic bargains available, the uncertainty of the economy is still a concern. If you are fortunate enough to still have a decent, stable job then you should try and save some money for the future. But where do you put it to keep it safe?
If you don’t own your own home you may want to consider investing in real estate. With all the fore closures out there, the opportunity to buy a home at record low prices is now. And if you are a handy person, a fixer upper may be a better deal for you. Drive around the neighborhoods you would be interested in, and bring a pad of paper and pencil. Stop and look over empty properties, and make a pro/ con list. The next step is to view the property, and make an offer on the one that best fits your needs. Be sure to request an appraisal, an inspection, and a record of the taxes and utility bills. You don’t want to have to invest more into making it livable than you paid for it.
If you already own a home or immobilien, then do some research on investing in the stock market. (If your job is questionable, move on from this advice) Open a brokerage account with a discount brokerage firm, and put say $1000 in it. Brokerage firms have money market accounts, so your money will earn interest if you don’t use it to buy securities right away. If there is a certain stock that you are interested in, set a low price limit order to buy it at a price you are willing to pay. (See my resource section below) Chances are the brokerage account money market, will earn more money than your banks savings account. They are FDIC insured the same as your bank is. (Make sure before opening an account)
If you are in the market for a new car, this should be a top priority. I would suggest looking for a newer model used car, over a brand new car. You can save thousands of dollars, if you are on a tight budget. Buy from a reputable party, or try and get a warranty of some sort for your protection. With all the flooding that has plagued our country in the last couple of years, there are a lot of nice looking cars that have skeletons under their hoods.If your future is currently insecure, keep your money in your bank account. Set up a budget, and learn how to cut expenses. Prepare for the future, before the economy decides your future for you!