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MoneyLife Personal Finance Study





As with any other major decision you should do some checks to make certain you are doing the right thing. Ask about them at your church. Consult the Better Business Bureau and speak to your state consumer affairs representatives. One final point to keep in mind when you start to make your enquiries. All these organizations stand to benefit by having you as a customer. 

The interest rate itself may not be higher, but the total interest earned should be. The best source to do the research is definitely the Internet, where you get information not only from the websites of the financial institutions that provide the CD products but also from the various blogs and forums where people discuss about CDs and which of them are the best. 

While it's not the buyers market it was there is still some competition out there and you need to exploit it to your advantage. After all, over a few years all those dollars soon mount up in your favour. If you're a home owner you will find that you can often get a much more favourable rate if you take a loan which is secured on your property. 

Whatever type of investment you decide on ensure that it suits your personality in terms of risk. If you hate anything risky then ultra high risk bond markets are definitely not for you! Go for something that will get you the returns you are after but which also let you sleep at night. The next point we need to look at is whether you will be making your own decisions on where to invest or getting a professional in to do the job for you. 

Assuming that you feel comfortable with your risk level and the length of time you will need to tie up your money for you can begin to choose how to get started with your investing in the stock market. You have a couple of choices. You can either make your own decisions on where to place your investment money or alternatively get a professional to do it on your behalf. 

By learning to manage your risk levels you can ensure that you only select positions you will feel comfortable with over the medium to long term life of your portfolio. Once you begin to get a good grasp of how the markets operate you can begin to make some investments of your own. However before you start to lay down your hard earned cash you might want to try paper trading.