Heres my plan, I plan on every week from my small meager paycheck taking  1-5 dollars and funneling that into a either a savings or CD.

I am leaning towards CD.

I  figure if I do this from every pay check that I get or any change that I can convert, byt the end of 2009 I wll  have ancei little nest egg that I didnt feel in one major chunk.

Of course I will also ahve a christmas club for pennies. Shame you cant start one now, so I have a drawer full for January 15 when i can start one.

julie

Have you been able to find a CD that will let you invest that way?  The bank I was with for 8 years required a minimum deposit and didn't allow for any additional funds to be added once the contract was executed.

Also, with CDs, be careful about what the contract says about the interest rate.  Now's noe necessarily the best time to lock in any interest rates for the long term.  I haven't checked prime rate or the fed funds rate lately, but I'd imagine they're fairly abysmal given the current state of recession.

I would agree with Jen on this one. Be very cautious before signing anything. Read careful.

I am trying to buy a few shares every month as I believe that share prices will be increasing a lot in value during the second half of 2009.

Thats good thinking. Make sure you stick to the plan at all costs. I had the similar thinking during the start of this year, unfortunately I couldn't follow the plan.

It's great that you have a plan.  Jen has some good advice, so make sure to be careful.

We can start Christmas Clubs here now for next year.  Maybe you can check on that to make sure you have to wait until January.

That sounds like a good idea for me too. Start saving now for Christmas next year. That way no mad scramble for money. And who knows what our economy is gonna be like in a year. I`ll have to save from hubbys check when he starts his new job. $5 a week only adds up to $260. But hey,once in awhile add a little more. 

Its tough for me to start saving for something that is one year from now. Its a great idea though!