These certificates are similar to insurance policies, with the difference that you make the deposit right at the start and not in the form of monthly premiums. There is a maturity period, after which you get back the sum you deposited along with the interests accrued. Since you are going to get your savings here in the form of interests, the concept of high CD rates becomes important. You don't need to know every last detail about how the markets operate but knowing the basics will enable you to spot potential problems far more easily. There are a number of different ways of learning about the stock market and you should choose one which is best suited to your own particular learning style. This will not only enable you to build up a great little nest egg but you will also benefit from getting into the habit of saving and investing money. While in college funds may be tight but the self discipline of providing for yourself in the future will be great way to learn the skills that you will also need in building your career. That being the case only risk money that you can afford to leave invested. Assuming that you feel comfortable with your risk level and the length of time you will need to tie up your money for you can begin to choose how to get started with your investing in the stock market. You have a couple of choices. A little bit of effort could save you thousands and that's money in your pocket. Take your time and speak to licensed debt counsellors from as many places as you can find. While a couple of extra days won't make much difference at this stage they could add months or even years on to the length of your repayment schedule. When we think of the different ways of investing money most of us think in terms of the stock market but there are plenty of other types of investment to consider. For example you could choose gold or any other precious metal, real estate, Certificates of Deposit or even old automobiles. Your choice is limited only by your imagination and of course the depth of your pockets!