How should one store saved money?

[freeAgent]

So FDIC is an insurance policy and not a savings account? its something you can put on your savings account and have to pay extra to be covered? if so, im not sure why people would suggest it. "backed by the government" "ok...".

In the US, all deposits at banks are insured.  It's not optional.  I don't know how it is in Canada.  I believe credit unions don't (necessarily?) have FDIC insurance, but I could be wrong...I've never looked into it.  Also, if you put your money in a money market fund, that has no insurance on it.  If you ask me, one of the safest long-term investments you can make is to open a brokerage account and purchase an ETF tied to something like the S&P 500.  It really all depends on your timeline, the amount of risk you're willing to take, and how much money you have.

[BonerJoe]

NCUA is used by credit unions.

http://en.wikipedia.org/wiki/NCUA

Both FDIC and NCUA "insurances" have been expanded to cover up to $250k per bank you use.

[plastictrax]

I think for now i will just use a savings account at the bank. I will probably be spending the money i currently have because im not established financially yet. if i get substantial amounts of money later on in life i will buy gold or stocks/bonds.

[Sovereign Curtis]

You Need To Diversify Yo Bonds Nigga