Do you have $1,000 or less to invest? Here are three strategic moves you can make with your money to help maximise your family's finances and get the ball rolling towards financial stability. 1. Put your money in a term deposit A term deposit can help grow your money faster. Offered by banks and other financial institutions, term deposits allow you to earn a fixed interest rate over a specific timeframe – usually one month to five years. In general, the longer the term, the higher the interest rate you can earn. Terms deposits can be a good option for families if you’re: · Looking for a safe place to store your money. · Saving up for big-ticket items such as a car, a wedding or a family holiday. · Putting money aside for educational expenses. With no fees and maintenance required, term deposits are a simple investment that’s easy to manage. 2. Invest in shares Investing in shares involves buying stocks from publicly traded companies or purchasing units in a fund; it can offer people the opportunity to help save for a comfortable retirement. But share investing does carry risk, so it's important to make sure it fits with your long-term goals. It may suit families who: · Want to adopt a more aggressive investment strategy. · Have money to invest over a longer-term period (usually 10 years or more). · Understand and are comfortable with the risks involved. Getting started with investing your money in shares is as simple as opening a brokerage account and talking to a broker. 3. Use a credit card with rewards When your family is growing, reward credit cards can help you get more bang for your buck by rewarding you for everyday purchases such as groceries and petrol. Every time you spend money on eligible items, you can earn points that are redeemable for rewards. Rewards commonly offered include: · Cash back: Cold hard cash in exchange for using your card for everyday purchases. · Travel points: Points that you can use to help pay for airline tickets, accommodation and travel upgrades. · Shopping rewards: Points that you can redeem for fashion, home furnishings, electronics and more. · Instant rewards: Automatic discounts at the register for using your credit card to pay for purchases. Today's reward cards often feature a host of other consumer benefits including purchase protection, price insurance and even travel insurance for your valuables. Make the most out of your budget by investing in the right strategic approach for your family. You can easily compare term deposits, credit cards or online brokers. So, why not get started today?