There should be a class in college that teaches everyone how to manage their personal finances. Because how is anyone supposed to know what to do with their money? So if you’re someone who finally has some savings and you don’t know what to do with it, this is what you should do with it first. We don’t wanna keep all of our money in our checking account. It’s not earning any interest, which means it’s not making us more money. Of course you wanna keep our monthly expenses in our checking account. We don’t wanna be paying rent out of a savings account. But at the same time, you don’t wanna keep all of your savings in a checking account. Once you notice that you do have some savings, you have a decent amount more than your monthly expenses, you’re gonna open up a high yield savings account. What a high yield savings account does is you actually earn interest on the money that you put into it. So say for example, you put in $1,000 and there is an annual 5% interest rate. I am just simplifying this down, but that means that at the end of the year, you have made $50 on the money that you put in. So instead of that $1,000 sitting in our checking account staying at $1,000, we’re now earning $50. This is just the easiest, most passive way to earn more on the money that you’re making. But when you start Putting a decent amount more into the savings account, and you have more that you don’t know what to do with, then you’re gonna open up a brokerage account. And this is where most people get overwhelmed. Because to be invested in the stock market, you don’t have to be someone who is following the market every single day, looking at stocks, picking individual stocks, that is absolutely not something that we all need to do. The risk, of course, in investing in anything in the market is that it does go up and down. You’re not gonna have that steady interest rate like you do in your savings account. So when you turn on the TV and it says the market went up today, you’re gonna see a nice bump. But when you turn on the TV and it says the market went down, you are going to see that you might have lost some money. Best thing to buy for someone who doesn’t wanna get in depth in doing so much research and picking any stocks, is buying a mutual fund. You can buy an S and P 500 mutual fund, and that generally follow the overall market. So like I said, it goes up, you make money. It goes down, you might lose some money. Of course, there’s risk when you buy a mutual fund. You might lose money. In the short term, hopefully you make money, but there is risk along with it. But in my Opinion there’s a lot bigger reward that comes with it.