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Learn 17 potential places to invest a small amount of money. It's listener question day! Here is our question: Linda, I only have a small amount to invest, about $300 to $500. Where should I start? Sam There are many options you have. Since I don't know anything about your circumstances, I'm going to give you a list of choices. Assuming all your consumer debt is paid off. If not, start there to get back to stability.   1. Start an emergency fund. Keep it in a separate (no-fee) checking or savings account, if possible. 2. Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA) are both great ways to reduce your income taxes by paying for medically-related expenses with pre-tax money — that is, money deducted from your paycheck before income taxes are calculated on your pay. You put money into that you use to pay for certain out-of-pocket health care costs. This means you'll save an amount equal to the taxes you would have paid on the money you set aside. 3. Pay 1/12 extra on your mortgage to pay it