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Four Smart Ways to Invest Tiny Sums

Buy into your company's stock purchase plan.

Many public companies offer employees the opportunity to buy its stock at a reduced price.

Generally, your employer takes money out of your paycheck every month on an after tax basis and, every six months, uses what's accumulated to buy you stock at a discount (usually around 15%). In six months, your $1,000 will buy you $1,200 worth of stock so you've already made money.

Over time, your investment will increase as your company's stock grows. A stock purchase plan is still a savvy investment if you can only set aside $600. Setting aside this $100 a month will get you $700 worth of stock in six months.

Buy a CD.

Visit BankingMyWay to see which banks in the country are offering the best rates for CDs. Right now, a return of 3.5% to 4% is the highest rate you can expect to get for CDs ranging from three to five years.

"It seems like a small gain, but if you put your money into the stock market, it might drop, and if you leave it in your bank account, it won't grow at all," Wall says.

She suggests opening a CD if you have an anticipated expense coming up in a few months or years, such as buying a car or going back to school.

Put it into a quality stock mutual fund.

Mutual funds invest in a diversified portfolio of stocks, and by putting $5,000 into a high-performing fund, you can expect a significant return on your investment.
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