How do you save your money?
I do not keep much money in my savings account. All my moneys are in either my Roth IRA with the mutual funds/ stocks or my 401k. I am comfortable living paycheck to paycheck because I am young and can afford to struggle but when I am older I plan on having my wealth there. I dont trust banks with savings accounts because when I do make a cash deposit they alway fu*k up and give me the receipt of someone elses transaction and it makes me concerned that they are doing that to others as well. I have credit union btw. I just dont want to save money in a savings account. If you are wondering how I would pay for emergencies, I would use a credit card, thats what they are there for right? Is this bad what I am doing??? I also have a money market account I can justify but the rate on a savings account is significantly MINISCULE!!!!!! No, no no my cards NEVER get decline. Its paid off in full each month. I just figure the return on future investments is more important than lil crap today
Public Comments
- i would take my money and put it in a BANK savings account. and as long as you use credit cards for emergencies only and pay them off as soon as you can, you should be fine on that. if you want to save more money, you should try to spend less.
- do what the first answer says as that a great thing to do but save extra money around the house too like value food, and not replacing something unless its broken. sounds simple but i reasently started doing ti and saved loads of money.
- i would say use a bank and credit cards i open certificate deposits to save money with interest and use credit cards to get credit scores then i only put 25$ every paycheck for my 401K
- I would try a savings account, or, opening a CD account. You get more interest with a cd account then you would with a regular bank account. At any age, its always good to have some money put away. What if your credit card gets declined for who knows what? I have a younger sibling(he's 18) and I have to force him to save money, five dollars a week in a savings account.it will pay off in the long run.:)
- There's nothing wrong with a saving account. The problem is the Bank. Just switch banks. You should build up a savings account now because who knows what the future will hold. My wife and I have been putting away money every time we got paid plus our retirements from our jobs. We've been married 35 years.
- Your first option should be to fund fully a retirement account. If you do this, and you have extra cash, then one of the best things you can do is open a DRIP Plan. Go to : low-cost-stock-recommendations .com Click on the "DRIP's" Button on the Navigation Bar These powerful investment plans are seldom talked about because brokers make very little money when they suggest them. Yet, they have proven to be one of the best, if not the best, long-term strategy on Wall Street. They are perfect for small investors, as well as big investors. They are safe and allow you to not care about whether the market is going up or down. They are a must for any serious investor. If you decide you are interested in DRIP Plans, click on the advertisement on the same page "$4 to purchase stocks". This will answer your next question, which is, How do I get started? and what is the least expensive way to get started? I strongly recommend looking into it. They are great plans. Good Luck
