rich habits

If you're in your twenties and you just have your money sitting in one account, baby, we need to talk. It's definitely time to start getting serious about your finances. Here are four accounts every girl in her twenties should have. The first one's gonna be your basic checking account. Now we barely use her. She's really only here for when we need physical cash because if you watched my last video with rich habits, you know we only use credit cards around here. Number two is a high yield savings account. Instead of keeping your money cooped up in a regular savings account and basically making nothing off of it, a high yield savings account will allow you to make interest on money you're already saving. Number three is your Roth IRA. This is gonna be your retirement money. You essentially put money in it, invest it and let it grow over time. The earlier you start with this, the more time your money has to compound and they increase the contribution limits so you can contribute up to $7,500 dollars a year. And then lastly, for the girlie who's ready to start taking investing seriously, you have your brokerage account. This is where you'll invest your money outside of retirement accounts, so you have a lot more flexibility. You can invest for specific purposes like buying a home or even just building wealth. I love my brokerage account because there's no contribution limit. You can invest in whatever you want to invest in and you're not locking your money away into retirement accounts. Those are the four accounts I think every woman in her twenties should have. You don't have to open all four today, but understanding what each one of them does is a great place to start. Bye.