Business and finance: Do you have an example in which you invested money into a savings account?

timer Asked: Dec 16th, 2015
account_balance_wallet $5

Question Description

Do you have an example in which you invested money into a savings account? What do you find to be the smartest way to invest extra money?

Tutor Answer

Felix N
School: UCLA

Thank you for the opportunity to help you with your question!

As an employee, I receive my salary by the end of every month, and due to the demanding nature of my work, I cannot get enough time to undertake other investment projects, since I work whole week. And therefore, to avoid misusing my money, I decided invest the extra money in a Regular Savings Account.

Regular Savings Account is where I take my money every month. The reason why I decided to use this investment savings plan is due to their annual bonuses to customers. This savings plan has good interest rates. The problem with this account is that if you fail to remit your monthly savings regularly, you may lose the bonus.

The best way to invest the extra money is to invest it in Stock Markets. Investing your money in stock markets is a good way of investing your money since it earns quick and big returns.

Please let me know if you need any clarification. I'm always happy to answer your questions.

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