by Marie Bywater

Created on: September 05, 2010   Last Updated: September 06, 2010

In some cases investing leads to greater riches if wise decisions are made. Women, like men, can be shrewd investors. If you are female and would like to invest $100 to grow your riches, here are some great ways to do it.

Little Miss Cautious

Stick to a good old savings accounts or cash ISA. Currently British bank Santander is offering an e-saver savings account which gives you 2.75% interest on your savings without being penalised for withdrawals. Halifax is also offering a high interest savings account at 2.8% but you are only allowed one withdrawal each year. Cash ISAs are another great way to invest $100 each month to grow your money. Santander cash ISA offers an interest rate of 2.75%. 

Little Miss Hoarder

If you would like to invest $100 each month and like looking for a bargain this option is for you. I think the best way to invest $100 for a hoarder is to invest in quality jewelry. So get looking on eBay and Gumtree for discounted jewelry, especially gold. The value of gold has risen tremendously over the past few years and continues to rise, therefore there is no better investment than gold. Granted $100 will know buy you that much but you can save $100 from month to month and after three months buy an item costing $300. Many items of gold jewelry are greatly reduced on eBay and Gumtree as sellers want a quick sale. If you love jewelry and bargains then this could be the best way for you to invest $100.

Little Miss Risk taker

If you are not averse to taking risks you may wish to invest $100 each month in the stock exchange or in a stocks and shares ISA. You can buy small volumes of funds each month and you could spread the risk between three different funds. The best thing about a fund ISA is that your profits are tax free. Choose your funds carefully after doing some research on the best performing funds at Morningstar.

These are three ways women can invest $100 each month in order to become rich. Each strategy is slightly different and will give a different yield. If you have $300 to spare you could split your money three ways and invest $100 in each of the ideas to see what gives you the best return. How are you going to invest $100?

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