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Personal finance involves saving money and budgeting. It also includes investment management, specifically stock investing. If you really want to earn money and get ahead realize that stock investing is an integral ingredient of personal finance. Here we bring you up to speed on stock investing vs. saving money within the bank. Then we suggest the top ways to invest in stocks if you lack experience.<br><br>Saving money for a rainy day is definitely an important part of personal finance. Most of us need a cash reserve to cover emergencies and as a cushion to ensure we can pay the bills. It is a nice secure feeling to have money in the bank, even when it earns meager rates of interest. But how do you really make money to get ahead?<br><br>Just saving money isn't enough. At 3% interest it takes 24 years to double your hard earned money. At 10% it doubles in 7 years. How can a normal person make 10% a year? You guessed it ... stock investing. Over the long term for the past 50 to 80 years, stocks have returned On average about 10% per year vs. about 3% for safe investments like money in the bank.<br><br>Once you have your head above water and may also pay your bills with cash left over, investment management is the place of personal finance that determines whether you get ahead or not. Stock investing is your growth engine. Generally, how does the normal person invest in stocks without financial experience?<br><br>If you have a 401k or similar plan at the job, this is the most effective place to start stock investing. Start small if you're uneasy at first, but invest some of your contributions in general diversified [https://aoc.stamford.edu/profile/drewbrockman stock news releases] funds. Therefore you are invested in a long list of stocks. If other investors make money in stocks, you should too. Remember, over time stocks have returned about 10% per year vs. 3% for the safest investments like money in the bank.<br><br>If you don't have a pension program at work to invest in, you may invest in stock funds (stock mutual funds) on your own or through an investment representative or financial planner.<br><br>If you want to do it yourself and avoid sales charges as well as other fees call an important no-load fund family like Fidelity or Vanguard. If you want professional help call a financial professional.<br><br>In any case, get your personal finance show on the road and make money to get ahead by stock investing. Eventually you are going to want to add bond funds and money market funds to the mix. But as usual, stocks are your growth engine. Invest a portion of your investment assets there to at least get your investment management headed within the right direction.<br><br>Stock investments don't carry guarantees like saving money within the bank does. There's always risk and bumps in the road. Think years down the road when you invest in stocks and don't let short-term setbacks upset you.