Ep 27 - Top 5 Places To Keep Your Money/Cash!

<p>In this episode, we talk about the top 5 places where you can keep your hard earned cash! We go into details on the types of places you can keep it as well as the risk level that entails with keep your money in those spots!</p> <p>Help support us by joining our Patreon! (<a href='https://www.patreon.com/BrokeMillennialFinance'>https://www.patreon.com/BrokeMillennialFinance</a>)</p> <p>Check out our website for more content: (<a href='https://brokemillennialfinance.net'>https://brokemillennialfinance.net</a>) </p> <p>Subscribe To Our YouTube Channel: (<a href='https://www.youtube.com/c/brokemillennialfinance'>https://www.youtube.com/c/brokemillennialfinance</a>)</p> <p>Here are the referral links for you to join to get your free stocks:</p> <p>Robinhood: (<a href='https://join.robinhood.com/naveras-a23246'>https://join.robinhood.com/naveras-a23246</a>)</p> <p>Webull: (<a href='https://act.webull.com/i/QNmo8WB8Yzc2/74x/'>https://act.webull.com/i/QNmo8WB8Yzc2/ufl/</a>)</p> <p>Coinbase: (<a href='http://coinbase.com/join/khan_st?src=ios-link'>http://coinbase.com/join/khan_st?src=ios-link)</a></p> <p> </p> <p>Show Notes:</p> <ul><li style="font-weight:400;">Why you should never have cash on your hand <ul><li style="font-weight:400;">Inflation is on average 2% a year. </li> <li style="font-weight:400;">This year inflation with be 4% due to all the cash the feds are pumping, so it is not safe to keep cash in your checking account.</li> </ul> </li> <li style="font-weight:400;">Savings Accounts <ul><li style="font-weight:400;">You can currently get up to 1% interest rate on these. You will still lose value on your dollar due to inflation, but its a safe bet as it is FDIC insured up to $250k.</li> <li style="font-weight:400;">This should mostly be the case if you are trying to buy a house in the future or saving up for another big purchase.</li> </ul> </li> <li style="font-weight:400;">Certificate Deposits (CD’s) <ul><li style="font-weight:400;">These are usually short term investments that range from 3-