Advice for a 20 year old
Hi all,
Looking for advice on what to do with my savings while I'm not earning income.
**Situation:**
- Rising Junior in college, low-income background, on financial aid + student loans(able to cover the basic needs)
- Have been working part-time during school and full-time last summer
- Currently doing an extended internship(operation/buyer)
- Have ~$20k saved that needs to carry me through until graduation- socal is quite expensive + aiming for one vocation per year
I have been working since Freshman year and I really want to take a break from working and focus on school. However, I’m hoping to save and invest as much as I can, to help paying off student loan when I graduate while not living so rough.
**My question:**
Should I end my internship after this summer?
What should I actually be doing with this money while I'm not earning?
Should I put it in index funds and let it grow, or is there a better option?
I want to minimize the damage of having no income coming in and make my savings work as hard as possible in the meantime.
Open to any advice — Thank you!