Wake
Easygoing Conservative
- Jun 11, 2013
- 4,787
- 1,550
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- Moderator
- #1
Hey everyone. It's been awhile. 
I've had a really tough life growing up. Dad made a lot of money, but he kept most of it for himself. Long story short, the rest of the family suffered in financial misery. It got so bad it was considered a pleasure to live in your car and eat wild walnuts to save money. Reading that again, that does sounds pretty funny. But that wasn't important, and life went on.
Fast-forwarding, I went to CNA school. Got a certificate. Worked. Hard. Still working. In a little less than a year I went from homelessness and free forest food to finding a place with really cheap rent, and finally being able to pay all my bills. By working hard and forgoing things, I've been able to survive. Car insurance, rent, food, utilities, car repairs, etc.
Home Helpers, a homecare agency, has been my employer for seven months now. They pay me $9.50 an hour, and because of work ethic and stuff they give me 38-48 hours each week. It's an incredible blessing to be able to work. The year before I went to CNA school I desperately walked around looking for work. I was able to work an hour a day in the back of a small restaurant, and I clung to those pieces of paper like they were food in a desert. That's how I was able to pay for school.
Having suffered for so long, I gained a thirst for money. I don't know if that's wrong, but I did know money meant survival. It meant tasty, unrotten food and a warm bed. This meant being frugal. Hardcore frugal. A frugal monster. A frugalligator.
Currently I've managed to save $2,707.65. Another $650 are in stocks on Scottrade. Investing is nice, but you can/will lose money at times. I want money, but I want few risks. The reason I'm typing this thread is that I'm looking to take the next financial step, but because I trust your judgment over others I'm bringing this up here for guidance and advice.
Guaranty Bank in WI offers an Ultimate Money Market Account. The opening deposit to get the account is $2,500. It pays interest monthly. Below $10000 the interest is 0.007% each month, so $17.50 on $2,500 each month before taxes. At $10,000 the rate goes to 0.01%, so like $1 each month per every $100 saved. Reaching $25,000 nets you 0.015%, $375. Lastly, $100,000 earns 0.02%, or $2,000 each month. What really gets me is that it's FDIC-insured and monthly.
I'm a young guy. 25. Please advise me. You'd be making a huge difference in my future.
I've had a really tough life growing up. Dad made a lot of money, but he kept most of it for himself. Long story short, the rest of the family suffered in financial misery. It got so bad it was considered a pleasure to live in your car and eat wild walnuts to save money. Reading that again, that does sounds pretty funny. But that wasn't important, and life went on.
Fast-forwarding, I went to CNA school. Got a certificate. Worked. Hard. Still working. In a little less than a year I went from homelessness and free forest food to finding a place with really cheap rent, and finally being able to pay all my bills. By working hard and forgoing things, I've been able to survive. Car insurance, rent, food, utilities, car repairs, etc.
Home Helpers, a homecare agency, has been my employer for seven months now. They pay me $9.50 an hour, and because of work ethic and stuff they give me 38-48 hours each week. It's an incredible blessing to be able to work. The year before I went to CNA school I desperately walked around looking for work. I was able to work an hour a day in the back of a small restaurant, and I clung to those pieces of paper like they were food in a desert. That's how I was able to pay for school.
Having suffered for so long, I gained a thirst for money. I don't know if that's wrong, but I did know money meant survival. It meant tasty, unrotten food and a warm bed. This meant being frugal. Hardcore frugal. A frugal monster. A frugalligator.
Currently I've managed to save $2,707.65. Another $650 are in stocks on Scottrade. Investing is nice, but you can/will lose money at times. I want money, but I want few risks. The reason I'm typing this thread is that I'm looking to take the next financial step, but because I trust your judgment over others I'm bringing this up here for guidance and advice.
Guaranty Bank in WI offers an Ultimate Money Market Account. The opening deposit to get the account is $2,500. It pays interest monthly. Below $10000 the interest is 0.007% each month, so $17.50 on $2,500 each month before taxes. At $10,000 the rate goes to 0.01%, so like $1 each month per every $100 saved. Reaching $25,000 nets you 0.015%, $375. Lastly, $100,000 earns 0.02%, or $2,000 each month. What really gets me is that it's FDIC-insured and monthly.
I'm a young guy. 25. Please advise me. You'd be making a huge difference in my future.
