Hello everyone! I'm seeking advice on what I should do with the money in my regular savings account; I'm a little torn on what to do. I would ideally like to invest the money (preferably a portion of it somewhere where it could be easily accessed, if need be) in order to make some gains. However, the other option would possibly be to pay off my car loan outright. Any advice? If suggesting investing, what is the best bang for my buck? Thanks in advance for the help.
Info:
22 years old (Military)
Income (monthly):
$3,300 (take home after taxes)
Accounts:
Emergency Savings Account (6 months):
- $12,000
Regular Savings Account:
-$30,000
Checking (Currently):
- $1,548
Debt:
- $22,405 (car payment)
Expenses (monthly):
- $1,811 rent, cellphone, insurance, food, car payment etc.