The stock market is kind of like a roller coaster where the chance you will run off the track in a fireball of destruction is as likely as the chance you will have the time of your life.

Even so, many investors find something very appealing about allowing money to make more money. If you are a newbie investor, you will have a lot of questions about throwing around your cash.

Chris Hill, media and communications director at The Motley Fool, a multimedia financial-services company dedicated to helping people take control of their financial lives, says the first thing potential investors want to consider is their time frame.

“We very firmly believe you shouldn’t be investing money in the stock market if this is money you need in the next five to ten years,” Hill says. “But for a younger person or someone starting their first job, the overwhelming majority of long-term savings should be in stocks.”

The second thing to consider is your debt situation. Before you worry about investing anything, Hill says it’s better to pay off any outstanding debts.  If you find yourself debt-free and with funds to spare, the only thing left to decide is where to tuck away your cash. Hill says the best way to decide which investment opportunities are for you is to consider your time horizon.

“If you have thirty to forty years before you need to touch this money, you should be looking at stocks and the stock market in general,” he says. “If sooner, you should buy into something safer.”

Don’t be put off from investing if you’re afraid of that kind of long-term commitment. Even investing $400 to $500 is a good start. If you’re not sure what to invest in, Hill says to look at what you’re already spending your money on or what you’re already interested in.

For example, if you work in retail, you can look at specialized companies like clothing or electronics retailers. “It’s always easier to follow your stocks if you understand how the business works,” Hill says. “It’s going to be instantly easier to follow because you’ll have a greater interest level, and you’ll know more.”

As for which companies not to invest in, Hill recommends paying attention to a company’s financial metrics, such as their long-term debt or how much cash they have on hand. He also says to follow to a company’s same-store sales. This tells you how sales are in stores that have been open for at least twelve months so a company can’t inflate their sales by opening a bunch of new stores.

If you’re still uncertain about your fiscal smarts, Hill says there are plenty of options for people who wouldn’t know a bear market if it came up and bit them. “For people who just don’t have time or are unsure of themselves, it makes sense to look at what we refer to as ‘set it and forget it’ investing,” Hill says. “That can be as simple as setting up a 401(k) [which helps workers save for retirement] through their employer and setting it up so a certain percentage of salary goes into investment—you don’t think about it, it’s just automatically done.”

The best part about investing today is how easy it is to actually execute a trade. “Opening an investment account is just like opening a bank account,” Hill says. “You’re setting up an account and putting money into it. And any stock you’re thinking about buying, you’ll be able to find analysis.”

Buyers can check out investment portals like Yahoo! Finance, Google Finance, or The Motley Fool for the latest news. Brokers like E*Trade and Ameritrade make purchasing your own stocks a snap.  It’s time to get your money working for you. Enjoy the ride.

Check back next week for my article about surviving the stock market in today’s economy.