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Updated over 7 years ago,
Where to save for a down payment?
Hello Everyone!
I am starting to save for a down payment on my first home. I want to have 20k by April 2018. I am just out of college, and the last 3 months out of school i have been working full time and have been extremely aggressively paying off my student loans, while i was figuring out my financial plan. I currently live at home, and have no doubt i will be able to save the amount i stated above, but the question i am looking at is where to hold these funds. Should i keep my down payment and my continual contributions in index funds, money markets, savings account, buy bonds? Im looking for ideas here and opinions on where to save, i dont want to keep the down payment savings in my savings account where i get .02% interest.
All ideas will help, but very specific examples would really help, as in where you actually do the investing if you do.
Thanks Everyone!