I'm not spending it, I'm depositing it. I dont know anything about this process except what my mom told me in 5 minutes: Savings Account: 0.22% interest. What my money is in now and I want to get it out asap. Bonds: Approx 5% interest. Cannot withdraw money for extended periods of time, is virtually not an option due to my age and the fact that I need to spend money. Online Accounts: Approx 4.5-5% interest. Its basically a savings account that is online and is linked to your bank account, there are many different sites. CD's: Approx 5% interest. Similar to bonds, but with more options. You can get a CD for 6 months, one year or two years and you can renew them after its finished. Right now, I am leaning towards getting a CD. However, I know very little about this and any and all suggestions are appreciated. Any information I'm missing? Pros and Cons of each process? What would you do if you were in my position (I have about 5,000 dollers and might need to make small withdrawals every now and then). FYI I'm not interested in Stocks right now. I don't know enough about them and dont want to take the risk. Call me a pussy!