10-31-2007, 02:02 PM
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#1 |
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Greenhorn
Join Date: Jul 2006
Posts: 10
Rep Power: 0  |
I need advice on my finances...?
I have about $2000 is savings at the moment and soon it will be $4000. I put $40 a week in there that comes out automatically and i dont really even notice it come out. I work part time and earn between 350 and 450 a week and my income is pretty much disposable. <br /><br />My savings account is a high interest account that is separate from my every day account. <br /><br />Should i invest in something or should i be saving more each week ?<br />
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10-31-2007, 02:02 PM
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#2 |
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Greenhorn
Join Date: Jul 2006
Posts: 5
Rep Power: 0 |
I need advice on my finances...?
Save more you already have high interest so why take a chance of losing it.
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10-31-2007, 02:02 PM
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#3 |
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Greenhorn
Join Date: Oct 2007
Posts: 42
Rep Power: 5 |
I need advice on my finances...?
u save lot..
thats realy good.... congrats... by the way ..i suj you pl z invest ..in soem special... 4 lil long time...then you got... really good amount ...soon.. ,...amit a sweet freind ur amit_skyvision@yahoo.com |
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10-31-2007, 02:02 PM
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#4 |
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Greenhorn
Join Date: Jul 2006
Posts: 46
Rep Power: 6 |
I need advice on my finances...?
Compared to the average American you are doing very well. Save as much as you can afford to. Don't forget to treat yourself once in a while though. Just make sure to do lots of research before making a big purchase.
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10-31-2007, 02:02 PM
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#5 |
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Greenhorn
Join Date: Jul 2007
Posts: 22
Rep Power: 5 |
I need advice on my finances...?
All I can say is INVEST AS MUCH AS YOU CAN AFFORD! Save up as much as you can for a few years, and then invest in a CD (certificate of deposit) for low risk and good interest rates.
Also set aside $40 per month to invest in an IRA (investment retirement account) so as to plan ahead for the future. Good luck! |
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10-31-2007, 02:02 PM
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#6 |
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Greenhorn
Join Date: Jul 2007
Posts: 22
Rep Power: 5 |
I need advice on my finances...?
Interest in your savings account is taxable and so is the money you put in it.
Are you married? Do you file jointly? Are you working "under the table"? How old are you? My advice would be to open a low risk IRA. CD's are risk free except their taxable and don't pay a lot after factoring inflation in. IRA's have a tax advantage. |
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