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  1. #1
    Junior Member
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    Jan 2016
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    16

    Savings and Investments

    My husband and I are married for 5 years, we have a 1 year old daughter. We both have good paying jobs and have our own home too. My problem is, we don't seem to have savings. What do you think is the best way for us to do? do we invest in stocks, mutual funds or bonds? I decided to save now so we can really secure our family's future. Any suggestions on how to save and where to invest? Thanks

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  3. #2
    Junior Member
    Join Date
    Jan 2016
    Location
    Long Island, NY
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    13
    Do you have a one year emergency fund? One year of expenses put in the best interest you can get for zero risk. There is a lot of good and BAD advice on the Internet, so be careful. Also right now is the time to invest in a college fund.

  4. #3
    Junior Member
    Join Date
    May 2015
    Posts
    25
    Quote Originally Posted by minifrumpy View Post
    My husband and I are married for 5 years, we have a 1 year old daughter. We both have good paying jobs and have our own home too. My problem is, we don't seem to have savings. What do you think is the best way for us to do? do we invest in stocks, mutual funds or bonds? I decided to save now so we can really secure our family's future. Any suggestions on how to save and where to invest? Thanks
    Hi, that's a good idea! I also do some savings and investment plans. By the way, I put my extra cash in the bank because I believe, this is the only institution that I can save my money or do any related loans like housing loans, car loans, and even educational plans. But, you could always try some other institutions.

  5. #4
    Junior Member
    Join Date
    Jan 2016
    Location
    Long Island, NY
    Posts
    13
    I use a credit union. Membership requirements are more flexible now than they use to be, and for me fees are zero. In the US credit unions are insured by the government. I don't know how other countries do it.

  6. #5
    Junior Member
    Join Date
    Oct 2016
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    21
    Quote Originally Posted by minifrumpy View Post
    My husband and I are married for 5 years, we have a 1 year old daughter. We both have good paying jobs and have our own home too. My problem is, we don't seem to have savings. What do you think is the best way for us to do? do we invest in stocks, mutual funds or bonds? I decided to save now so we can really secure our family's future. Any suggestions on how to save and where to invest? Thanks
    Saving money is crucial for the overall financial stability of an individual. Always adopt the startegy of increasing your income and reducing on your spending. Be it a young adult or a person about to retire invest smartly, boost income, reduce your debt and build on your savings.
    Set apart part of your monthly income off the top rather than from the leftover. Make it a point to save atleast a particular amount every month, come what may. Always have an emergency savings account. Balance the amount spend and the savings. Get rid of lavish or unwanted habits thereby gain svaings. Before tossing things in garbage ensure if you can reuse them. Or at the least earn from them by selling things you no longer need. Remember your junk would be of use for someone and may bring in few bucks. Save money with DIY approach , check this article ( Renovation Plans? Save Money With A DIY Approach | Gorilla Bins ). I am not sure about your working status. Get creative making money through a part time job. Have a good start, rest will work fine. While investing allocate your assets. Younger people should invest aggressively while the elderly can be more conservative. Be in the know of all the investment costs. Review your investment strategy once or twice in a year and don't panic allocating your funds seeing the headlines.

  7. #6
    Junior Member
    Join Date
    Jan 2017
    Posts
    11
    I think, Mutual funds can be the best option.

  8. #7
    Member
    Join Date
    Jul 2017
    Posts
    40
    I should say, investing in cryptocurrencies can be profitable. As the price on Bitcoin has recently started increasing, most people think that it is not time to invest in it now. But the latest forecasts showed that it might reach more than $20k soon. In case you have doubts, I suggest using cryptocurrency price trackers https://cryptolinks.com/cryptocurrency-price-tracker. Personally I invested in Bitcoin about a year ago and I haven't regretted my choice.


 

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