DAVE RAMSEY

Dave Ramsey says: Where’s the best place to keep your savings

Jan 5, 2025, 5:00 AM | Updated: Jan 6, 2025, 6:42 am

Dear Dave,

Where is the best place to keep my savings?

Angie

Where to keep your savings

Dear Angie,

In my mind, when it comes to savings, the idea is to park the money in a safe place — like a money market account or basic savings account — and keep it separate from the rest of your cash, so you don’t accidentally spend it on the wrong thing.

I’m not really concerned with making money in a savings scenario, so things like setting money aside for an emergency fund or vacations fall into this category.

Investing, on the other hand, is when you’re going to leave the money alone for a bare minimum of five to 10 years to grow it. Things like college planning and retirement fall into this category. In these instances, I recommend good, growth-stock mutual funds that have stable track records of at least 10 years.

I hope this helps, Angie!

— Dave

Dave Ramsey

Mortgage, debt, stock market: Financial advice for 2025...

Dave Ramsey

Dave Ramsey says: Senior mother’s mortgage advice and the best-laid plans about debt

Do you have concerns about mortgage, debt and the stock market? Dave Ramsey has a variety of answers for concerned.

6 days ago

Emergency fund, getting out of debt: 2025 Dave Ramsey advice...

Dave Ramsey

Dave Ramsey says: Make your money safe and easily accessible – How to get out of debt quickly

One reader asks Dave Ramsey about an emergency fund strategy, while another is curious about getting out of debt. Here's his advice for both.

13 days ago

Employees don't care about your mission statement? Try this...

Dave Ramsey

Dave Ramsey says: How to make your employees care about your company mission

Are you a business owner who has ever said, "My employees don't care about my company's mission statement"? Check out this article.

15 days ago

should a teenager have an emergency fund 205...

Dave Ramsey

Dave Ramsey says: Should a teenager have an emergency fund, too?

One of Dave Ramsey's followers wonders if he should encourage his teenager, who has a part-time job, to create an emergency fund.

20 days ago

Sales management job caught your eye? 2 email tips to follow...

Dave Ramsey

Dave Ramsey says: How many follow-up emails should you send after a job interview?

In this letter, a listener of the Dave Ramsey Show asks him how many follow-up emails she should sent after applying to a sales management job.

27 days ago

financial obligations Phoenix Arizona money...

Dave Ramsey

Dave Ramsey says: Honor your financial obligations

Financial expert Dave Ramsey shares a letter from a reader and shares advice on why it's important to honor your financial obligations.

1 month ago

Sponsored Articles

...

Bright Wealth Management

How IRAs are a helpful tool in retirement planning

When it comes to retirement planning, individual retirement accounts (IRAs) can be a great tool for income growth.

...

The UPS Store

How The UPS Store is giving back to the community

PHOENIX -- As 2024 nears a close, The UPS Store is looking to give back to the Arizona community with the holiday season approaching.

...

Sanderson Ford

Sanderson Ford’s Operation Santa Claus: Spreading holiday cheer through pickleball

Phoenix, AZ – Sanderson Ford, a staple in the Arizona community, is once again gearing up for its annual Operation Santa Claus charity drive.

Dave Ramsey says: Where’s the best place to keep your savings