I'm a college student, and I currently have $100 in a savings account. Is there something else I can invest in

Question

It's not much, I know.

Answer 1

penny stocks, go start an IRA..........anything. put as much as you can afford in it monthly.....and watch it grow. now is a great time to invest too. the stock market is at a new low, nit has lost almost 20% of it's value in the last year....so you are getting in at a good time to wacth your money grow.

Answer 2

This "INVESTMENT GUIDE" is more helpful for you to make your money to make money for you,without taking any risk.

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GOOD LUCK

Answer 3

I think all of the brokerage firms require a higher minimum investment, otherwise you could invest in no-load mutual funds.  Even if you could invest in stocks with a discount broker, the commission would cost about 10% of your portfolio, so this doesn't pay.  You could look into online savings accounts that might pay up to 3.50% interest.  These usually don't have a minimum balance requirement, but I don't know if the extra interest is worth the bother unless you are going to have more money to add to it later on.  With only $100, you should probably just keep it somewhere safe where you can get to your money and not have to pay any ATM or monthly fees, otherwise just keep it as cash.  Being in college you'll probably need the money for something anyway.

Answer 4

Don't worry about investing until you have more saved up.  Honestly, there's not much you can do with $100 due to minimum investment amounts.  

Keep saving and study about investing while you do.

Answer 5

Depending if you have a continuous income flow while being a student.  100 USD isn't that big to start but you could go  to different banks and scout for interest rates in Time Deposits.  Study them, and learn about Inflation Rates, and how it affects the cost /value of money.  Roll over your Time Deposit  every 30 days, if it is 30 days maturity.  Deposit what you save/ earned.  Never spend your coins, live below your means and SAVE.

After you save enough for the mutual fund minimum.  Go for Mutual Fund, because it pays better with little risk than stocks and FOREX.  If you save enough for Bonds go for bonds or Treasury Bills.  Never put all your eggs in one basket.  Save enough that you can still remain fluid in terms of assets.

Know your net worth, for now if you have 100 USD and the money in your pocket, that is your net worth.  Work your way slowly and set a goal.

Answer 6

If you check online savings accounts, you can usually find a higher interest rate than regular banks.  ING is the one I use for my children.  

But right now, I don't know how much investing I would do with the market the way it is right now.  My husband's 401k is doing really crappy.