I've got $500 from my tax refund. what is the best thing to do with it?

Should i put it in a savings account or invest it and where should i invest it to get maximum return

First invest in knowledge, it all starts in your mind, take some investing and motivation courses.

Use that for repaying the credit that has highest interest %. If you are out of debts, I think you should consider some investmet fund. If you look for maximum return, you also have a high risk. Choose some fund investing in India then.

If you have any debt, pay that off. If you don't, contribute to a Roth Ira with 70% of it. With the rest, split evenly between a gift for someone you love, a gift for yourself and a gift to your favorite charity. If you want to read about the destructive influence of debt, please see my website. http://www.fredstown.com/acne.html

Invest? Are you sure? Are you out of debt? Do you have an emergency fund? Are you funding your retirement accounts thoroughly? Are you investing for your children's college? You ought to do all these things before you even think about starting some other random investment.

I follow Dave Ramsey's "Total Money Makeover" book. It has been a godsend. Give it a shot.

You might want to do a couple of ladder CDs with it. You'll get a good return on the interest and you can keep rolling them over. You could even take the interest off them at the end of the year and start another CD with that. Talk to a banker.

Send it to me!! I promise you I'll spend it wisely and you can feel good knowing you've made someone else feel good! ;)

Open a brokerage account at Scottrade and invest in the ETF DIA.

Hello there, First of all let me congratulate you for trying to do the right thing by investing your money instead of blowing it off shopping around (materialistic mind). You are already on the right track my friend. After spending some time online searching for ideas of how to invest ( multiply you money), I have come across so many ideas from other people but most of them just don't make sense. Some people suggest that to multiply your money you should invest it in the stock market, CD's, bank accounts, etc etc etc supposedly because they will pay you an interest (not higher than 5%) if you let them take your money. WOW, that sounds good eh? So if you invest $1000 dollars in a bank who promises to pay you 5% interest (which is unusual) as long as you keep it in savings for 12 months, you would be making $50 dollars at the end of the year. But is that the right thing to do? I mean, you will only make $50, while the bank is going to make probably 3 or 4 times more than what they will pay you in in interest AND using YOUR money, (they make money off your money). How much did you really earned from investing your $1000 dollars in a year? Well, here is where you are going to see how much you earned: $0.15 a day.!!! Is this fair? I think you would make 10 times more money buy buying 500 chocolate bars worth $.50 cents each and selling them for $1.00 dollar each. You would be earning more money than what the bank would pay you just by selling "1" chocolate bar a day and NOT in 12 months. To make this story short, my suggestion is that don't waste your time giving your money away to the bankers, brokers, etc who are only going to make money off you. Instead, invest it in something that will really pay you back. Buy something cheap and sell for a little bit more (buy an Ipod $200, sell it for $220 dollars). I also have some money that I will invest into my own business (trust me, I have no economics, nor finance background at all; I am on the health field). Don't let these banker and accountants take advantage of you. They would be nothing if we all decide to take our money out of the banks. Good luck my friend and make those $500 dollars turn into $5,000 000 dollars. Hugo

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