Where should i invest my money in order to save for a house?

Savings account, CD, or any other cash vehicle that pays the best interest rate. Since you are saving for a house, protecting your principal should be a primary consideration. The stock market is a bit too risky at the moment for your goal.

If this house is to be purchased in 3-5 years you should consider that short term and not invest it in the stock market. CDs or a high interest bank account are your best bet. The market may be too volatile and you may actually lose money in the short term. Just set up a budget, buckle down and save money like crazy to get that down payment - the more you have the less your monthly payment will be.

How soon do you want this house? If in 10 years, the stock market will get you the highest return. If 5-10 years or less, then a high yield CD or money market account would be best. Online CDs and money markets offer the highest yields.

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