M
Manuel M.
Where should you put the money you save? In a savings account, mutual fund, or stock?
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Where should you put the money you save? In a savings account, mutual fund, or stock?
It depends on the purpose of the savings. If it's for an emergency fund or you may need it in a few years, it's probably best to keep it in a savings account where it can earn a little interest and remain liquid and available. Otherwise, you can probably take a little more risk with it to get an increased return.
If someone wants to start now with saving for your future if you don't want to invest first then try to put away 50 dollars weekly into a savings account that gives you a great interest.
Great replies so far, the only thing I will add is: the younger you are the more advantageous it is to have a higher proportion of investments vs savings