what are treasury bills? are they like a stock to invest in, or are they secret money yet to be made in the money factory, or what?
Treasury bills (T-bills) and their counterpart treasury bonds (T-bonds) are NOT stocks, but they are a bit like an investment.
Very very very simply, they are loans YOU give to the U.S. government, to be collected at a later date with interest. T-bills are shorter term (and therefore lower interest) and T-bonds are longer term (with longer interest). You can cash them in when they mature for the full value of the bond.
Example: In 2000 you spent $100 to buy a treasury bond worth $1,000 with a maturation date of 2020. You hold onto it for 20 years, and in 2020 you cash it in for $1,000, earning yourself a tidy profit of $900. (Note: I have no idea of the current rates so these numbers might not be realistic.)
A lot of people diversify their investment portfolios with bonds in addition to stocks because they are generally less volatile than stocks.
If that sounds like a load of confusing bullshit, not to fret! We explain at length right here:
Investing Deathmatch: Stocks vs. Bonds
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