The goal you are saving for can impact the way to save as well as some of the stratigies you use. Saving for college is different than saving to buy a house. Things to keep in mind are:
For example if your are saving for emergencies you don't want to take any risk, and could need the money at any time. The best way to save would be a traditional savings account with a bank. If on the other hand you were saving for a child's college and you had many years you might want to consider a 529 plan.