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My stimulus check will only be $300. Where should I put it?

Although $300 isn't much in the stock market, but since the economy is down, some stocks are pretty cheap. I'm thinking of opening an account with Sharebuilder since there is no minimum balance and only $4 per trade. I'm also a newbee when it comes to investing in stocks. I've been reading to educate myself but there's too much information and I'm not sure who to go with. NHPR stock is at .50 and its target is $3.00. Should I put it there? Although $300 isn't much in the stock market, but since the economy is down, some stocks are pretty cheap. I'm thinking of opening an account with Sharebuilder since there is no minimum balance and only $4 per trade. I'm also a newbee when it comes to investing in stocks. I've been reading to educate myself but there's too much information and I'm not sure who to go with. And don't say "Buy Gas" buying gas won't go to the US economy, it will go Venezuela or Middle Eastern a-holes

Asked By: matadorjr - 5/8/2008
Best Answer - Chosen by Asker
Check out other options. If you have a job I would consider putting it in a Roth IRA. That way it will be tax free when you take it out at retirement. You are also able to take out the amount you put in (but not the interest) without penalty. Paying for a house, education, or if you become disabled are other ways to... More
Answered By: cng - 5/8/2008
Additional Answers (10)
put it into the illegal drug industy. I'm not going to go into details, but alot of money can be made.
Answered By: a b - 5/8/2008
 
Save it or spend it. No cheap stock is worth the downside risk of losing it all.
Answered By: LittleWolf - 5/8/2008
 
go to pick in save and turn it in and you will get a $330 dollar gift card. make $30 extra dollars off of it.
Answered By: schotsie19 - 5/8/2008
 
You can kiss your $300 goodbye if you invest in stocks....
Answered By: Right on - 5/8/2008
 
my best advice is to stay out of the stock market!
Answered By: stan w - 5/8/2008
 
Instead of individual stocks, find a mutual fund. And consider it "on sale" because when market is down it's a good time to buy. Research the different funds available and pick one you like based on all the companies in it and how it has performed previously. Historically, over a 20 year period,stocks earn about 12... More
Answered By: desdemona - 5/8/2008
 
Just make sure that you understand that with stocks there is some risk. That's how they can give you a higher return on investment. There is no guarantee that it will hit its target. As long as you realize that, "BEST OF LUCK."
Answered By: ceskazbrovka32 - 5/8/2008
 
fill up your tank and buy a weeks worth of groceries.
Answered By: piet lul - 5/8/2008
 
If you are new to the stock market, stay away, you will get eaten alive. I'm not saying stay away completely, but make sure you do your research before hand and fully understand the market mechanisms... More
Answered By: TJ - 5/8/2008
 
Spend it immediately we need the money back into the economy!!!
Answered By: Brick - 5/8/2008
 
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