How can I cheaply invest my money?

I am talking about $100 or less.

There are a few things you can do but it also depends on your spending habits and whether you want to sock the money away for awhile or you plan on using it soon. On the surface, I'd say that the best place for your money is a money market account - because it acts very much the same as a savings account, but offers a higher interest rate. To get full benefit of a money market account, you'd be required to not touch the money for a certain period of time, like 6 months of a year or more. The longer you don't need it, the higher the interest rate you may get. To find banking institutions that are currently offering the best money market accounts, go to bankrate.com. This website updates their date on a daily basis and is widely used to find the best rates for a number of financial needs. How nice that yo want to save something :)

Sharebuilder.com is the best place for what you describe. They have several plans, including automatic investment of pre-determined amounts. They are very inexpensive. And if you have an account with any of their many partners, there are some times cash promotions.

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