What's the best way to invest $1500 for a 6 month to 1 year term?

Question

I have $1500 in my savings account that I'm really tired of seeing bring me $0.20 per month in interest. I thought that I might invest it for a 6 to 12 month time period just so I have somewhere to park it for awhile. I have been giving a little thought to treasury bills right now. Is there anything that I could do that would retrieve me an even better return than that? I'm not really that concerned with risk, but more looking for the best return that I can get in that 6 to 12 month time period. What would you do? Thanks in advance!

Answer 1

I agree you should definitely have an emergency fund set up. I would watch the business channels ex: Cnbc, fox, and go to cnbc.com, wall street journal, etc. Figure out your risk limit and what meets that best. Could be a Cd (look around for the best rate-local banks, online banks, etc.), might be a T-bill, you could have a good feeling about some stocks, REITS. Read articles, listen to people talking about investments and pick your best option for you. Diversify it as much as you can.

Answer 2

$0.20 per month in interest??? OMG!

You could get at least $25  per month...Invest your money in a small business and earn 20-24% per year.

Go to http://get24percent.blogspot.com/2008/06...

Good luck!

Answer 3

Your only option is a CD that matures under one year. Check your bank for rates. Remember, gains are taxable.

Why do you need to invest $1500? Do you have an emergency fund? If you don't have at least 3 months of your living expenses set aside, you should not be investing and running the risk of withdrawing your account prematurely and paying penalties.

Answer 4

CDs or internet savings accounts are your best bet.