Personal Finance Tip #6: Invest
June 20, 2008 by Miranda Marquit
Filed under Finance
In last hour’s personal finance tip, I mentioned that interest charges for debt are just so much wasted money. However, you can use the law of compounding interest to your advantage if you follow the sixth personal finance tip in my list:
Invest.
There are many different options for investing: stocks, bonds, FX trading, futures, commodities, funds and more. You need to figure out your risk tolerance, and go with what is comfortable for you. The best way for most investors, though, is to choose a few investments that you can hold for the long haul. My post on Lazy Man and Money offers a few investing ideas that would be great for your economic stimulus check.
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Check out what others are saying about this post...[...] true that some types of investing may not be the best idea right now, especially for beginners. But investing is still a smart choice. It is important to use investments to allow the law of compounding interest to work in your favor. [...]