Ways to Invest Your Money

There are lots of options to investing your money rather than having it sit in your piggy bank. If you want your money to grow, you need to spread out your investment and ensure its safety.

US Stock Exchange
Image: cfed.org

The US Stock Exchange is one of the most widely-used investment platforms today where you can purchase stocks from a specific company or through brokerage firms. Foreign Stock is another good option as it allows you to trade with foreign companies worldwide.

You can also invest in Bonds, which is a long-term investment as it is a contractual obligation between you and the government. Currency trading, meanwhile, allows you to trade on foreign currencies hoping that its value will increase.

There are others as well who trade on precious metals like gold, silver and platinum since they mostly keep their values and occasionally increases, but rarely decreased. If you have a standard savings account, it will also pay a small interest rate on your money.

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Image:  wikipedia.org

Another form of bank accounts is the Insured Money Management Account (IMMA), which is similar to your bank account, but with a higher interest rate. You can also invest in Cash Deposit (CD), which is a safe investment as it is certified by the federal government.

A mutual fund will allow you to purchase a number of stocks at the same time and is a good way to spread your investment. Your last option would be to invest in a local startup business by giving them a loan based on agreed terms and interest rate.