Can I buy Money Orders to save them for later?
I have a hard time saving money for traveling purpose. I try to save in my bank account but I end up using it for something else because I do not know exactly when I will be traveling. But I know I need to travel anytime this year. Do you think I can buy Money Orders for as little as 50 dollars or higher until I reach 2000 or 3000 dollars.
Public Comments
- You can but the problem is they are only good for 90 or 180 days no sure which. Make sure you read the fine print on the back.
- while yeah you can purchase money orders, you are risking to have non-endorsed checks sitting around and could lose them before your trip. Not to mention you are not earning any interest with the printed checks. You should consider having a online savings account that can be linked with your checking, from like HSBC or ING, you can transfer a small amount to it every time and treat it as if you don't have it, say you are paying a bill... when the time comes you will have it all in one place plus you could be earning compounded interest of like 3.5% APR
- IF THE MARKET IS INCREASING YOU HAVE TO INVEST MONEY AND YOU KNOW ABOUNT ALL INFORMATION OF MARKET
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