That being the case we can start to take steps to reduce the amount of money that we owe and also the amount we have to pay out each month. Think of it this way; Credit cards are not "bad", just like anything else they have plusses and minuses. Ok the minuses include horrendously high rates of interest but on the other side of the coin they can be invaluable in emergencies. One of the things that can help you is to check out which of the CDs gives you the highest rate using online research. All the CD providing organizations have websites with complete details on how their services work. These financial institutions are very clear on imparting knowledge about their CD products so that they can attract more customers. As part of assessing your own comfort level you will want to feel comfortable that you can afford to risk losing the money that you are planning to invest. Obviously you don't want to lose it but if you absolutely can't afford to then you should look for something which carries a significantly lower level of risk. It is needless to mention why people would want the best saving accounts they can get at this stage, because their financial life is almost on the verge of or already has become stable. The account they are opening now is an instrument of savings. Probably you are contemplating on opening a saving account too. You can either make your own decisions on where to place your investment money or alternatively get a professional to do it on your behalf. Whichever one you decide on it is always a good idea to paper trade first. That is where you decide on a particular stock and only place the order on paper. This will help you to see if you are happy with the market fluctuations as well as with the types of choices either you or your adviser made. 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. In fact investing money while in college has so many benefits that it should probably be included on the curriculum.