10.00 - 20.00 amonth

[Frugal Father (tm)]

any ideas on where to put 10- 20.00 a month ( I save this from my work week money aside from the money going into several mutual funds) I have not seen
anything that'll let me invest/save this amount monthly...advice???

[anonymous_saver]

We might need a bit more information, in order to give helpful suggestions.

Do you have all of your debt paid off?

Do you have an emergency fund, if so how much?

How much are you saving for retirement?

Do you have any children that are under 18?

Do you have a dream vacation you've never been able to go on?

Do you have anything that needs to be fixed in your home?

[disneysteve]

What would this money be for? Short term needs, retirement, emergency fund, etc? Knowing that would help determine where best to put it.

If it is for EF or other short-term needs, I say a high yield savings account.

If it is for retirement, I would park it in a high yield account until you have enough for a minimum deposit in your retirement account and then transfer it. For example, if your fund requires at least a $50 deposit, save the $10/month in the savings account and every 5 months transfer it.

[puck36]

I would put it in a online savings account like HSBC.

1. NO monthly maintenance fee
2. NO minimum term
3. Open an account with as little as $1

You will earn 5.05% on the account.

Online Savings, Savings

[Frugal Father (tm)]

Thanks...

I am good in my other investments...I just happen to have spare cash I save from my work week allotment and its about 10-30 amonth I wanted to get some interest and /or cap gains leave it and be surprise when I am older...I can;t find a place to put it...I have an orange account and didn't like the company so I close it. any further advise???.....thanks

[disneysteve]

I wanted to get some interest and /or cap gains leave it and be surprise when I am older

It sounds like this money is intended for the long term. I don't know how old you are, but if you are talking at least 10 years, then stocks are the way to go. As I said earlier, let the money accumulate in a high interest savings account and each time you have enough for a minimum purchase of one of your mutual fund accounts, add to that.

[CRFSaver]

several things you could do. You could do a direct investment in a share of your liking. Best example is do an inital 250 investment in GE direct purchase program, and then do 20 bucks a month into the divident reinvestment program. In several years you will have a lot of shares. There are several companies that provide no/loss cost direct purchase and dividend investment plans you could do a direct pull.

All else fails there is share builder which allows for small investments as well. Most mutual fund companies allow for minimum investments if you agree to do monthly recurring investments.