Any alternatives to invest money other than long term deposit?

Im trying to learn how to let money works for me. Im studying arts so i have no basic knowledge of those financial stuffs. For now, i just put my money into a long term deposit account with comm bank. But i would like to know how to better manage money so that it could grow more. where should i start? i mean any recommended website or books for me to read. and any other banks with a better interest rates?
Thank you for all your answers. I really appreciate your time taking in thinking and typing solutions for me.

I went shopping around for a very good term deposit about two weeks ago. I found out the best bank at the moment with the highest interest rates for term deposits was "RaboBank" www.raboplus.com.au

There an internet bank so you don't need to set up anything with them, you just link it to your current bank account. Don't worry they're an international-renowned bank and they have a very secure system. Banks like the Commonwealth, NAB, ANZ etc. don't offer these high amounts of interests like RaboBank. First you must get the 7.15%pa normal saving account and from there once your set, you can apply for their term deposits.

Other than that, investments outside high interest saving accounts or term deposits, it'd be a pretty high risk of getting a good return.

This website will help you learn how to trade. It will teach you the basics.

It's a good place to learn how to make good returns on your money. Try it out.

If you want a quick return on your money then trading in cfd,s is the way to go.
You dont actually buy shares as such but buy a contract on the assets.
You then earn or lose money on the opening and closing price of the asset.
Many people have got rich very quick from cfd's but there is also the risk of losing money quickly.
Finding a broker will help as they can advice you on stops that sell when the
asset falls below a certain amount you can afford to lose.
you can find more information at
http://www.cfd-to-cfd-trading.co.uk

Your first option should be to fund fully a retirement account.

If you have done this, or you wish to wait on the retirement fund, then one of the best things you can do is open a DRIP Plan.

They are seldom talked about because brokers make very little money when they suggest them. Yet, they have proven to be one of the best, if not the best, long-term strategy on Wall Street.

The best part is you get solid annual returns from well-known, safe Blue Chip companies like: McDonalds, General Electric, Pfizer, Walmart, US Bancorp.......etc........

They are perfect for small investors, as well as big investors. They are safe and allow you to not care about whether the market is going up or down.

your career is your choice, however it is almost a necessity to understand money. There are several places where you can put your money.

CDs (Certificate of Deposit)- it sounds like this where you have your money now. these generally yield no more than 4.5%.

Government Bonds-now is NOT the time to buy these. if you get a good rate you should be earning 5% on a 10year bond.

Companies bonds/debt-the return will vary depending on how stable the company is, you should only buy these from a utility or a fortune 500 company. you can get 6.5% and higher on these if you get the best ones.

Stocks-your returns will vary depending on how good an investor you are, the best average around 20% annually and the worst lose their shirts.

Real estate- DONT INVEST HERE NOW!!! you will lose your shirt, we have way too much supply without enough demand (ie there are more houses for sale out there than there are people who want to buy a house). As an artist I doubt that you will be bringing in a ton of $. unless your spouse does I would not suggest investing here because without alot of money banks will force you get a bad quality loan, and that is a great way to set yourself up for losing money.

As for books I know only my field of expertise: Investing in stocks. I would read Intelligent Investor (Ben Graham) and One up on Wall Street (Peter Lynch). whenever someone says they have a: "foolproof way to make a million" or whatever it is a scam, if there was such a way everyone would be millionares.

As for switching to a bank with better interest rates I would advise against it (unless you are getting around ~1% on your money) because the banks dont want to pay any more than they have to so if they are paying alot it means they are close to going under

i beleive in cedit Unions

I had the same problem as you have.
I had a good amount of money, but didn't knew where to invest it.
So I looked around for something that gave me a great return towards a low risk.
And the only thing I could find was a mannaged account.
Here you can follow up my results of every day:
http://my-robottrader.blogspot.com/

I'm verry excited because I already have 48% ROI in Two months time.
My moneymannager is giving me great support, and answer all of my questions almost immediatly.
Annyway feel free to contact me (adress on my blog) and I'll bring you in direct contact with my money mannager.

IÂ´ve been investing for more than 20 years and trading for almost 14, and I can tell you that if you want to make BIG and FAST profits, I recommend you trading rather than investing, trading can help you to go from rags to rich.
If you are investing, you must have already achieved some degree of financial success, long term stock investing and FOREX can help you become much richer than you are today.
My experiences as a Nasdaq Market Maker, Head trader of seveal brokerage firms, and currently as a professional trader and private hedge fund manager, I can suggest you that:

We trade because we want quick, short term profits on a consistent basis. We want to cash flow the market. Milk it like a cow. Make consistent, small, short term gains rather than trying to hit a home run on every trade. Don't ever forget that, don't marry a stock, marry the idea of making money trading stocks. That's the only way to do it.

For me "All stocks are equally worthless"

I don't hold on to any illusion that the stock market will continue to go up and provide a nice retirement for me.
I could care less which way the market goes. It's irrelevant to me if the market goes higher, crashes or moves sideways for the next 50 years. I really could care less. Stocks are just four letters with two prices next to them that I use to make a living trading.

Trade ONLY when you have a clear, easy and identifiable advantage, because without a CLEAR EDGE your odds of success are NO better than a flip of a coinâ€¦ ThatÂ´s why so many new traders (and investors) lose money.

Take a look at any daily chart of any index or stock and you'll probably see the most volatility and the biggest opportunity for profit during the first Hour of the stock market's opening.

The popular thinking and conventional wisdom is that you should wait about an hour before you start trading.

But if you do, you'll miss the big, fast moves that stocks make as all the amateurs let their emotions out through their online accounts, usually right after they read some news headline or hear Maria Bartiromo go off about a stock on CNBC.

It's easy to see why trading the open is the market's prime time for profiting from other online traders.
The market's open is very volatile - that is the perfect environment for LARGE, FAST profits.

Learn to trade as a professional Market Maker ,not as an emotionally driven amateur trader or investor with few thousand dollars in an account at Etrade.

There isn't any other time during the day or any stock you can invest in, that can make you 1, 2, 3, 5, 7 or more points in minutes OTHER than during the first hour the stock market is open. That's why I love trading the open so much.

I trade only when I have an edge and that means "only the first hour the market is open".

If you are a beginning trader or investor, you can give yourself an unfair advantage in the market trading this way.

I can continue giving you a lot of advises about how to make money trading, but if you ask me:
"What is the best thing you can do for me or that I can do for myself?
Go to this hidden site and learn the BEST guarded system on making the largest and fastest day trading profits youÂ´ve ever seen...

http://www.onehourtrading.com

After you review this site you wonÂ´t need any other system, strategy, book, software or mentor to tell you what to do,
you will be able to find big profits opportunities every day, and donÂ´t rely on anybody else.

P.S. Check my last 3 trades, so you can have a better perspective...Check them in any chart software or website.

Date: 2/13/2008, Stock: NILE, Gap: $13.57, Action: Bought at $42 Sold at $43.5, Profit: $1500, No. of stocks: 1000, Time: less than 3 minutes.

Date: 2/14/2008, Stock: EQIX, Gap: $7.25, Action: Sold short at $80 Bought at $78, Profit: $2000, No. of stocks: 1000, Time: less than 1 hour.

Date: 2/15/2008, Stock: DRYS, Gap: $3.67, Action: Sold short at $86.5 Bought at $84.5, Profit: $2000, No. of stocks: 1000, Time: less than 1 hour.

TOTAL PROFITS IN 3 DAYS: $5500

What is the best option for you, to invest or day trade? The answer will depend on your expectations, experience, money, time, but if you are a beginner and you want to put yourself light years ahead of every investor and trader you know and give yourself an unfair advantage in the market get The One Hour Trading System right away!!!

Good luck and good trading,

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