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What's the best way to save up for a car? USA (kbin.earth)

submitted 17 hours ago by [email protected] to c/asklemmy

13 comments fedilink hide all child comments

I'm putting away $300 a month, my question is where to put it. savings account has basically 0 interest, there are HYSA (high yield savings account) that would give me 3-5% apy, or I already have some money in stocks that have grown consistently 25% over the last year (index funds only)

what would you guys recommend? I'm looking to buy it probably 3 years from now. that way either I've got a fat down payment or I can just buy it cash

thanks

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[–] [email protected] -1 points 16 hours ago (2 children)

I would never take financial advice from random people on a message board.

[–] [email protected] 3 points 9 hours ago

As opposed to random people who wrote their opinion on a webpage or something? These groups are great for crowdsourcing lots of ideas you may have never even considered, and its not as if saving for a car is some niche topic. Can you point to any comments here that seem like bad advice?

[–] JustAnotherKay 7 points 16 hours ago

It's not a bad place to get search terms though