#HYSA

[bitchesgetriches]

Sup bitches! Hope you are well.

I’m heading into college, and hoping to get my first ever part-time job (I’m staying with my parents during college to save funds). Do you have any advice for how to wisely save up my measly part-time salary so that I can (hopefully) afford to move to a bigger city post-college and not go into horrible debt? All help is accepted help :)

Congrats, babycakes! That's exciting! We have three pieces of advice to you:

Put your savings in a HYSA (high yield savings account). We wrote about how to do that here: Not Every Savings Account Is Created Equal

Let intentionality fuel your frugality. In other words, you don't have to deny yourself every single luxury in order to save money, but you do need to carefully decide where you'll spend your money according to your values, in order to not waste it. More on that here: The Magically Frugal Power of Patience 

And the third piece of advice is to keep doing EXACTLY what you're doing: seeking out information to expand your knowledge of how money works. Knowledge is power, and a lot of money has been lost through ignorance. Stick with us, and run through the articles here as a good starting place: Everything You Need to Know about Saving Money and Being Frugal

Now GET IT! We believe in you!

If this helped you out, tip us!

[dango-daikazoku]

hysa list breakdown

[farademetre]

High-Yield Savings (HYSA) vs. CDs: Which is Best for Your Money?

High-yield savings accounts (HYSAs) and certificates of deposit (CDs) provide diverse benefits to savers, including differing interest rates, accessibility, and periods. High-yield savings accounts often give greater flexibility and faster access to cash, although CDs frequently offer higher interest rates for specified periods. Understanding these distinctions might assist consumers in selecting the optimal alternative depending on their financial objectives and liquidity requirements.

[atomicfarts4u]

If you use a regular savings account instead of a high yield savings account….youre just a dumbo 🐘

[godblessthese20somethins]

investing in my future

i don’t know how i started to click things in my head together, but something really went off. i realized that my money in my savings, although thankfully growing, could be better. as a wrap and to return to as a reference, ive found out some things i didnt really know before:

hysa

at the most basic explanation i can give, a high yield savings account allows your money to grow overtime, as long as you keep adding onto it and depending on the bank’s % (anywhere from 1-5%), it will just grow. its a safe option.

etfs

i did my own research and i’m not claiming to be a professional by any means, but i’ve learned that these can be bullish or bearish just like stocks. if you purchase an etf, you will have a basket of stocks in them. you can win or lose. there is more room for me to learn here but this is my most basic understanding and i’m sure it gets more complex. i am happy that i have started my own research about this. many people will have differing opinions.

at the end of the day, i wish i could’ve started investing when i first started working. i didn’t have a clue on anything about finances and i wasn’t informed. so if i can shine a little light for someone else to be more aware and get into it; i will.

[buponit]

High-yield savings accounts earn higher APYs (Annual Percentage Yield; the amount of interest the money in your savings account can earn over a year) than traditional savings accounts because your money compounds, you earn interest on the money you save and interest on the interest,

[hjarta]

still thinking about this tweet i saw that was like "turning 26 is crazy suddenly i'm stretching daily and i have a high interest savings account"

[zafiro-anyejo]

Hank buying minerals when he can't work is either amusing or causes a jolt of self-reflection; there is no in-between.

[eowynstwin]

I am very very curious as to why we don't like Trevor Wagner in this house

My info is secondhand, so take this with a grain of salt: Trevor’s made a ton of thirst traps targeting fat women (his usual thing is that someone will tell him their weight and he will film himself lifting and carrying things of equal and much heavier weight, implying that of COURSE he could and would pick you up, baby girl, he’s totally into you) except allegedly no one has found him following any fat women on the platforms he uses. Meanwhile the women he does follow are…as you might expect of a gym bro with an OF

Like, if you don’t like fat women, fine, but actively profiting off of their desire for you is another thing entirely

(Also this is just a personal thing of mine but he’s a car/motorcycle guy and I am far too utilitarian to tolerate that)

[l0std1adem]

am relatively convinced that I am just lighting money on fire by investing it into the stock market

we are in a net loss baybee

[bitchesgetriches]

Dear Bitches,

You've always talked about investing in the stock market. But I recently had the option to open a high-yield savings account and it gives 4% interest...is this as financially smart as investing in the stock market?

Signed,

Someone who is terrified of the stock market

Sweet clementine, a high-yield savings account or HYSA is a great place to start! It's not the same as investing, but it's a smart way to make your savings do the most for you. If you want to go a little further, check out this article for more info:

From HYSAs to CDs, Here's How to Level Up Your Financial Savings

As for investing, it doesn't have to be scary! We've written extensively about investing 101, and you can check it all out here when you're ready:

{ MASTERPOST } Everything You Need to Know about Investing for Beginners

If you found this helpful, consider joining our Patreon!

[gaygnomegirl]

I am on such a high right now. A new bookstore opened up two minutes from my house and I went in to check it out expecting it to be one of those hoarding situations where it's nothing but mountains of pulp paperbacks BUT IT'S SO JAW DROPPINGLY NICE. it's curated well and they have whole sections of gorgeous vintage illustrated books. it's everything I could ever hope for.

[peachyteabuck]

having a bit of a panic xoxo

[dango-daikazoku]

my wealthfront referral link:

https://www.wealthfront.com/c/affiliates/invited/AFFD-40MR-0PYP-32AV

༼ つ ◕_◕ ༽つ give me .5 increased inchrest rate

[angelicherubs]

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