So I think this belongs in r/frugal, but hate me if I'm wrong.
In 2014 my mom helped me make a CD with a bunch of money I received from my grandparents as a gift. Every month it increased about $16-$19 due to the interest. So not a ton of money.
Well, five years later the gift money has grown a bit more than$1,000.
$1,000 isn't a whole lot when you think about rent+bills+insurance+groceries+etc. But it's still all that gift money which I haven't needed all these years plus $1k.
I'll probably put all that money back into another CD or make it go into a higher interest savings account so I don't use it unless I really need it.
I am definitely not a financially smart person. I don't know anything about stocks or choosing IRAs or mutual funds. But I highly suggest people get a savings account or a CD! Drop that extra money you get from holidays and stuff into those accounts and check in once a year on the account and see its growth!
February 24, 2019 at 09:00PM
