What should I do with 5000?

How to Invest $5,000 Starting Today

1. Invest in Fractional Shares with Robinhood.
2. Beat Your Savings Account Rate with BlockFi.
3. Build a Micro Real Estate Portfolio with Fundrise.
4. Start a Roth IRA.
5. Let Robots Invest for You With Betterment.
6. Diversify by Investing in ETFs.
7. Invest in Your Kids Through a College Savings Accounts.

What can I do with 5000 dollars right now?

7 Best Ways to Invest $5,000 of Your Savings

1. Consider investing in a Roth IRA. A Roth IRA is a stable, long-term account in which you pay taxes ahead of time.
2. Robo-advisory services.
3. Go for index funds.
4. ETFs.
5. Save with an online bank.
6. Think about certificates of deposit (CDs)
7. Money market accounts (MMAs)

How much money does the average 18 year old have in their bank account?

For Americans who have a savings account, here’s a look at those numbers for each age group. While the average savings account balance for Americans ages 18-34 is $8,330.50, the median savings account balance for members of this group who have a savings account is $1,000.

How much savings does the average 18 year old have?

Only around 25\% have saved more than £6,000. On the other hand, among those aged above 55, only 2.23\% have no savings at all. The average savings for those between 18 and 24 in the UK stands at £2,481, while for 25 to 34-year-olds it stands at £3,544, which increases to £5,995 for those between 35 and 44.

How do you budget at 18?

Budget Planning for 18 Year Olds

1. Follow the Money. A budget is a spending plan.
2. Analyze Expenses. After tracking your expenses, sort them into categories such as school expenses, video games or eating out.
3. Allocate Income.
4. Always Save.

Is 5000 a lot in savings?

A savings account balance of $5,000 is a great starting point. In fact, a good rule of thumb is to have the equivalent of three to six months of essential living expenses in a savings account earmarked for emergencies.