One of my biggest mistakes was saving money and leaving it in a savings account. I thought I was smart and put it in a high yield savings account with a 1% interest. 10 years later I am realizing I missed out on tens of thousands of dollars.
If you don’t need the money in the next several months, put it in a vanguard index fund like VOO or VTI. Rather than increase 1%, your money will likely increase at a rate around 8%. I wish I could have told my 21 year old self.
Being frugal saves me maybe $20-$50 a week, but I could have earned a lot more had I passively put some money into decently safe investments.
(FYI I am not a financial advisor)
February 11, 2021 at 10:37PM
