The reason I really need to buy a house soon is the economic crisis is transforming the interest rate on my savings into something uninteresting whatsoever (I know, what a pun, ain't I witty?).
I'm quickly running out of options to make my savings grow, so my latest solution is : spend it all. Now.
3 comments:
Hope you already have a high-yield savings account from an online bank like ING. If not, get one. After that, low cost index mutual funds are probably the way to go. I can recommend a good book on personal finance geared toward 20-somethings like yourself, if you want.
I do have many accounts with ING, actually, but their rates are plummeting. I know nothing about mutual funds, though (ING doesn't offer them in Québec and I've always been too lazy to check out other banks!). What's the book you're talking about?
"I Will Teach You To Be Rich" by Ramit Sethi. It's a very practical 6-week plan to get your finances in order and automated, all relatively pain-free.
His blog, http://www.iwillteachyoutoberich.com/ by the same name is cool, too.
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