Saving $10K In Envelopes?
HTML-код
- Опубликовано: 17 окт 2024
- Watch my video to see if having your savings in an envelope is a good idea!
Where you put your savings depends on your financial goals, risk tolerance, and need for accessibility. Here are a few options on where you can put your money safely.
1. High-Yield Savings Account: Higher interest rates compared to traditional savings accounts, FDIC insured, easily accessible.
2. CDs: Fixed interest rates, FDIC insured, typically higher rates than savings accounts.
3. Investment Accounts: Potential for higher returns, diversification options, can be part of a long-term investment strategy.
4. Roth IRA or Traditional IRA: Tax advantages, long-term growth potential, variety of investment options.
5. Saving Cash: Immediate access, no fees, no risk of loss in financial institutions, but, no interest earned, risk of theft or loss, temptation to spend.
Choosing the right combination of savings options will depend on your specific financial situation and goals.
-Steve
Follow @calltoleap for investing videos!
Follow me @calltoleap to learn more things like this about money!
@calltoleap
@calltoleap
@calltoleap
Make sure you check out my next beginners investing master class tonight at 5:30 PM PT the link to sign up is in my bio! 🔥
Let me know where you keep your savings in the comments below 👇
#money #investing #finance #personalfinance #saving
Just out of curiosity, you used to recommend Marcus as a good option for a high yield savings and that’s who I use currently. Any particular reason it’s not on your recommended list anymore?
I still like it 🙂 I like anything over 4.2%
You really do help, thank you for your kind heart teaching us about this. I wish I had met you long time ago. But if anything I'm seriously so grateful I meet you now.
Thank you 🙏
Totally agree, thanks for your advice, greetings from Mexico City 😊
Thank you 🙏
Hi, I do cash stuffing. It is best probably to put the envelopes in a fireproof bag. My goals are to do the HYSA and to do catch up contributions with my 401 k by next year
For the past few years I have been putting money into a couple mutual funds. Would you recommend putting it into ETF’s instead?
I like ETFs 🙂
Thank you so very much cuz I was trying to follow the budget envelope method and I want to do that I have these envelopes but I haven't been able to do that I have some saved up but if anything I really like how you just showed exactly what you do and why because it does suck when people know what your goal is and what you're trying to do and that you do get robbed and it's not fair or right but at least you're making it to where your money's multiplying and it'll help you more in the long run than saving it in your nightstand or dresser
Thank you for sharing this 🙂
This is great knowledge, thank you.💯❤️
You’re welcome 🙂
Sir, did you actually watch the video ? She said she did it because paying off her debt. Some people do not have great control over themselves yet having it on a bankaccount
Yes but if she’s holding money to pay off debt why not hold it in a place where you can collect interest
I keep mine inside my pillow. Who's gonna protect your money more than your brain? Keep your money inside your pillow 😮
😅
Who the hell can put aside almost 400 dollars every two weeks?!
If she has that kind of money, she'd be better off following the video's advice.
Wish I was in America to do it, my country's savings only yield like 0.01% per month or per year, I forgot.
Thank you 🙂
So I reached out to a youtuber that was doing the same thing and explained how she could have been making so much more protecting it in bank accounts and she wanted to fight about taxes. Asked if I was going to pay her taxes for her then. People are crazy!
You never pay as much as you earn
Surprised that you would tout Wells Fargo with their history of shady business practices.
大変良かった致します👍👍👍
🙂👍