Hey, /biz/, currently got approximately 6k as an emergency fund, and looking on ways to multiply that. What do (in b4 online savings/sucking dick)?
Google Netspend Savings account
>>1097247
Checked it out and came across Barclay's. Anyobe have any experience with them?
>>1097233
Don't invest your emergency fund, save it.
>>1097303
Yes, they're good. Totally online, highest stable APY you'll find, no minimums or fees, easy to transfer funds back and forth between checking/savings.
>>1097317
at least 50% more than that
>>1097317
I recommend at least 6 months, but I keep 1 full year of expenses in savings. Never know when something major is going to happen and you'll be out of work for a year or more.
>>1097317
Holy shit, I'm jelly as fuck
>>1097334
Well, what are your yearly expenses? Mine are around $40,000 a year so I keep that much in liquid savings. You say you have $80,000 in savings does that cover a year of expenses for you or is that over doing it?
>>1097340
Im a student so my yearly expenses are basically zero, government issues $140 per week to students (student allowance) and thats enough for me since I dont socialize.
>Is that over doing it
Well im still a kid so I don't really know much about the real world, I'm not exactly confident enough to take a large fraction of the money and 'invest' it either (was considering using the money for a software startup company after I graduate)
Looking at online savings places -- holy shit, these reviews read like a horror story. Also, how's Ally bank as a new contender? I'm now wary as fuck
>>1097346
Eh, then you are good and leave it where it's at. Add to it if you can, since it'll give you a good cushion when you graduate. I'd even consider using part of it to buy a house once you've decided to do that. You are pretty far ahead of the game, so good one on you.
>>1097350
I wouldn't call them new, but they are good. Any reason with going with an online bank instead of a credit union?
>>1097356
I don't know any better and I think I bought into the online banking hype. I have a CapitalOne credit card and they have the 360 online savings account, but I found their .75% interest rate meager compared to Ally's or Barclay's. Can anyone red pill me about credit unionsonline banks?
>>1097361
I use CapOne360 as my accounts. I've been pretty happy with them since they were ING Direct.
>>1097384
Is the difference between 1.00% and 0.75% in interest rates neglible in the long run for you?
>>1097233
Find something worth $10,000. Don't buy it. Scour the country for the same thing in the same condition that costs $5,000. Buy that, sell into the $10,000 market. Repeat.
You're welcome.
>>1097401
I don't think physical arbitrage works in real life because of the effort and time required m8
I'm open to all suggestions, /biz/ bros
