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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: EconDiva on November 05, 2015, 12:22:15 PM

Title: Where to put $5K? Want to start a house fund
Post by: EconDiva on November 05, 2015, 12:22:15 PM
I want to put $5K into a fund to start saving for a down payment on a house (next month).

I don't see myself buying one for at least 2 years.  Actually, probably at least 3...2 is possible but not likely. 

I'd be adding maybe $10K a year to the fund for...let's say 2-4 years.

Any suggestions on where I should put them?
Title: Re: Where to put $5K? Want to start a house fund
Post by: slugline on November 05, 2015, 12:37:45 PM
With a similar timeline, I used a short-term bond fund to park the money I was accumulating for a house down payment. Your preferred discount broker should let you get access to one with low fees.
Title: Re: Where to put $5K? Want to start a house fund
Post by: Jeremy E. on November 06, 2015, 11:15:45 AM
http://www.mrmoneymustache.com/2011/06/07/where-should-i-invest-my-short-term-stash/
You could also check out something like a net spend account, but beware of possible fees.