Hey everyone! I’m new to the working world and thinking about my financial future. I’ve got a basic plan: save up for 3 months of expenses first then start investing. But I’m not sure if this is the best approach.
My friends are all about crypto these days. They say stocks are too slow. I’ve played with crypto before and made some money but I’m not sure if it’s the right move now.
I know the stock market is more traditional but it seems complicated. Any tips for a total newbie? Should I even be thinking about investing yet or just focus on saving?
I’m lucky that my parents can help out if needed so I’m not too worried about a big emergency fund. But I still want to be smart with my money.
What do you all think? Save more or start investing? And if investing, stocks or crypto? Thanks for any advice!
hey ben! welcome to the world of adulting and money stuff 
it’s awesome you’re thinking about this early!
i’m kinda in the same boat as you. started working not too long ago and was like… what do i do with all this money?? 
tbh, i think having some savings is super important. life can throw curveballs, ya know? but 3 months might be a bit much if your parents can help out. maybe aim for 1-2 months of expenses?
as for investing, why not do both stocks AND crypto? 
i’ve got a little money in both. stocks feel safer long-term, but crypto can be fun and exciting.
have you looked into index funds? they’re like… stocks for dummies (in a good way!). less risky than picking individual stocks.
what kind of crypto are you into? i’m curious about some of the newer ones, but bitcoin still feels like the safest bet.
anyways, just my two cents! what are you leaning towards?
Building a solid financial foundation is crucial. While having some savings is important, don’t let it hinder your investment journey. Since your parents can provide support, a 1-2 month emergency fund should suffice.
For investing, consider a balanced approach. Allocate a portion of your funds to low-cost index funds, which offer diversification and steady growth over time. These are ideal for beginners and require minimal management.
Regarding crypto, it’s wise to approach with caution. While potentially lucrative, it’s also highly volatile. If you decide to invest in crypto, limit it to a small percentage of your portfolio that you can afford to lose.
Remember, investing is a long-term game. Focus on consistent contributions and diversification rather than chasing quick gains. As you learn more, you can adjust your strategy accordingly.
yo ben! savings r important but dont go overboard. maybe 1 month is enough if ur rents got ur back. for investing, id say dip ur toes in both stocks n crypto. start small tho, like 5-10% of ur income. index funds r gr8 for stocks, less stress. for crypto maybe stick to top coins at first. but do ur research b4 jumping in! gl mate 