I am looking for tips on how to save money and invest it?
Ramel from Cebu Phil.
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Try sites with free investment articles/info like:
smartmoney.com
money.com
Read Dave Ramsey
I recommend Financial Peace and More than enough
Also the Millionaire next door (not sure of author)
The Automatic Millionaire is another good book.
Basically, if you are saving money for short term use (less than 5 years) a money market savings account is good. HSBC has one paying 5.05% right now.
If you are saving money for long term use (more than 5 years) a mutual fund is a good idea. If you want to save on taxes in the future, start a Roth IRA-- the earnings grow tax free. If you want to save money on taxes now, start a traditional IRA-- the money you put in is deducted from your income the next time you file taxes.
go to http://www.suzeorman.com.
Suze Orman is a financial guru. she's often seen on Oprah, public t.v., and featured in many magazines.
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