

If you intend to put this money away for a long time, and you won’t be tempted to take it out prematurely, it would be wise to invest in a low cost index fund (invest in stocks and bonds, basically). If you are in the U.S., you can invest in a Roth IRA and take the funds out prematurely ONLY if it is for purchasing a first time house. You earn far more interest that way.
I sorely wish there was a follow button 😭