Figuring out how to achieve financial freedom as a first-generation Latina.

Dream it

•

Build it

•

Grow it

•

Dream it • Build it • Grow it •

June 12, 2024

“I have some money saved up but I don’t know what to do with it or how to invest it. Where do I start?”

Step 1: Put money somewhere it can make money

While we figure out how to invest, let’s park our money somewhere it can make some money instead of lose value over time because of inflation.

Where though?

  • High-Yield Savings Account

  • Money Market Account

  • Certificates of Deposit (CDs)

  • Treasury Securities (like Treasury Bills, Notes, and Bonds)

  • Short-Term Government Bonds

Step 2: Choosing a High-Yield Savings Account

There are so many High-Yield Savings Accounts out there. Which should I choose?

Step 3: Make a 3-month emergency fund

Now that I know where to put my money that I am saving up, I want to start building a 3-month emergency fund before I start trying to invest my money.

Before I start trying to play with my money, I want to have a little reserve just in case of an emergency.