What do you do with money you didn’t know you had?
This is a question I struggled to answer after I discovered I had a CD up for renewal in my name during one of my recent visits home. While it wasn’t a massive inheritance or leftover lottery winnings, it certainly was a decent amount of money I didn’t realize I had. So what should I do with it now?
All I knew was that until that point, I didn’t know I had that chunk of change available to me, and it was growing under my nose. With some life changes coming my way, the money surely would be useful, but I didn’t want to have access to it for a long time! After all, I’ve done just fine up until now without realizing I had the money to fall back on. It’s awfully easy to find things to spend it on, especially as a recent college graduate…
Take it and run? Renew the CD? Put it in savings? Invest?
What should I do with this new fortune?
New car? New furniture? Moving expenses?
I began diving into research on investment accounts, and even though I’ve grown up in a banking environment and consider myself financially responsible, I had NO CLUE where to start!
“Money 101,” sounds easy enough, right? We’ll see! Stay tuned as I begin to weigh my options for investing!