how to: invest your money

Saving money and learning about investing is always a smart plan. Even if you’re newly hitched, it’s never too soon to start planning for those golden years. Think about it: Do you imagine yourselves lying on a beach or working behind a desk? If you picked the beach (or travel, or golf, or anything other than the 9-to-5 grind), you’ve come to the right place. We have all kinds of investment advice, including the basics of how to invest wisely and what all those financial terms really mean. Not sure where to begin? Start with our five easy steps to invest your money. We also have investing advice and Q&A on all kinds of financial basics about investing -- learn the difference between a 401(k) and an IRA, how to invest your savings, and your options if you can only invest a small amount. Our basic investing advice will help you get ready. But before you invest your money, you should be sure you’re out of debt: Use our debt calculator to help plan your payments, and follow our simple steps to go from credit card misery to debt free. And if your problem is a lack of cash, we’ve got tips for you, too. Learn the habits of spending-savvy couples, and find easy ways to save more of each month’s paycheck and stick to your budget. Don’t want to go it alone? Check out our local pages to find a financial planner in your area for some in-person investment advice.

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Money Q&A: Online Savings Account?


The Nest Q&A

Is it true that online savings accounts have better interest rates than banks? 


A. Yes! Many online banks and savings programs offer interest rates around 1.5% higher than if you walked into the branch of your local bank and opened an account (last fall, they were almost 4% higher). This might not sound like a lot, but if you have $10,000 in savings, it could mean the difference between earning $250 instead of just $40 or $50. ING Direct even lets you make sub-savings accounts with specific goals, like “Vacation to Thailand,” or “House down payment,” so you can budget your money.
You might also check out Emigrant Direct and HSBC Direct. E-Trade is another great option because they pay your ATM fees no matter where you pull money out. And fear not: Credible online banks are FDIC insured, so you don’t have to worry about losing your dough.

Nestpert Ramit Sethi, author of I Will Teach You to be Rich and personal finance guru for companies like Deloitte, KPMG and Inte

-- The Nest Editors

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