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Personal finance involves saving money and budgeting. Additionally, it includes investment management, specifically stock investing. If you really want to make money and get ahead recognize that stock investing is a key ingredient of personal finance. Here we bring you up to speed on stock investing vs. saving money within the bank. Then we suggest the best ways to invest in stocks if you lack experience.<br><br>Saving money for a rainy day is an important part of personal finance. Most of us need a cash reserve to cover emergencies and as a cushion to make certain we can pay the bills. It's really a nice secure feeling to have money within the bank, even when it earns meager interest rates. 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% each year? You guessed it ... stock investing. Over the long term for the past 50 to 80 years, stocks have returned Typically about 10% per year vs. about 3% for safe investments like money in the bank.<br><br>When you have your head above water as well as can pay your bills with cash left over, investment management will be the area of personal finance that determines whether you get ahead or not. Stock investing is your growth engine. Now, how does the average person invest in stocks without financial experience?<br><br>Should you have a 401k or similar plan at the workplace, this is the top place to start stock investing. Start small if you are not comfortable initially, but invest some of your contributions in general diversified stock funds. As a result you are invested in a long number of stocks. If other investors make money in stocks, you should too. As usual, in the long run stocks have returned about 10% annually vs. 3% for the safest investments like money in the bank.<br><br>If you don't have a pension program on the job to invest in, you can 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 either 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 [https://cairns.nsta.edu.au/profile/drewbrckman market news] funds to the mix. But keep in mind, 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 will always be 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.