Personal Finance

3861 readers

1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 2 years ago

MODERATORS

[email protected]

are there any good options for my savings? (self.personalfinance)

submitted 1 year ago by giantofthenorth to c/[email protected]

11 comments fedilink hide all child comments

I have a comprehensive financial plan and look to have up to 48k in about one years time saved. With 16k on hand after paying off my student loans this October which will likely start the one year plan.

I want to use the money to put 20% down on a house (plus have an emergency fund)

Outside of say a high interest savings account such as Ally, is there anything else I can do with the money I have on hand now, or is that the best option?

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 1 points 1 year ago* (last edited 1 year ago)

The high yield savings account is such a good option due to FDIC coverage + total liquidity AND SIMPLICITY since you need the money soon.

I personally wouldn't (and don't) complicate it trying to squeeze an extra $100 per year in interest. Your time and peace of mind are worth more than that.