Smart Money Moves: Avoid These 3 Red Flags and Secure Your Financial Future

Please never do these three things with your money. It’s definitely a red flag. Number one, keeping all your money in a regular savings account. For example, regular savings accounts like chase or Wells Fargo. Like, what are you doing in 2024? Not having a high yield savings account. High yield savings accounts are the same as regular savings accounts, but they just give you way more money. I have some of my favorite high yield savings accounts in my link in bio if you want to check them out. And please do so, because this is just passive income. Number two, not having an emergency fund. Listen, if there’s one thing you should do first with your money, it’s saving an emergency fund. Most people save up three to six months of living expenses for their emergency fund, but it’s totally up to you. So just add up how much it cost you to cover all your bills that month and multiply by three or six to know what to save for your emergency fund. Having an emergency fund just takes so much stress away with your finances because you just never know what might happen in this economy. Number three, not investing your money. Listen, it’s almost impossible to save your way to being wealthy. There’s only so much you can cut out of your budget to truly help save money. You end up running into a plateau. So you need to start putting your money to work. Investing your money into things like etfs, index funds, and more. The power of compound interest is crazy. And please do not be one of those people who miss out on seeing his power when you’re ready to retire. And if you want to learn more money tips like this, follow me.