Question

Hi everyone!  The past 3 years my boyfriend and I have been saving every $5 bill we get to save money for our daughter.Hi everyone! The past 3 years my boyfriend and I have been saving every $5 bill we get to save money for our daughter. We honestly don’t know what the money is going to go towards but it’s been a nice and easy way to save. We always count it on New Year’s Day. The first year we had about $800 and the second year $650. Now I’m just wondering what you guys would do with that cash. Savings account? Keep at home? Credit union? Which would be our best option?  

Answer 1

Every year id put it in a savings account. use ally or capital one .  

Comments

@nesmith thanks! I was actually just looking into a capital one savings account ☺️

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@ballard 1. 5 APY currently

Answer 2

You should definitely look into a savings account. Insurance policies only cover about $250 for cash. So I never recommend leaving large amounts of money at home.  

Answer 3

this

Answer 4

High Yield Savings Account all the way. Try Ally!  

Answer 5

Bank it! my insurance only covers $200 in cash