Extra Funds at the End of the Month? Maybe It’s Time to Save

Extra Funds at the End of the Month? Maybe It’s Time to Save
Fiona Staff12/13/2019

What do you do when you wind up with a little cash after all your monthly bills are paid? Generally, you’ve got some options such as:

  • Spend

  • Save

  • Invest

If you choose to save that extra cash, you can use financial search engines like Fiona to compare savings accounts and decide which offer best suits your needs. 

We’ve broken down the pros and cons of each choice so you can make the one that best serves your financial plan. When you’re ready, you can be sure you’re making the most of your financial options.

Before we get started though, now is a good time to take a moment and think about your financial goals. Do you have a financial plan, like how much debt you want to pay off in the next year, two years or five years? What about a monthly and yearly budget? You don’t have to make any final decisions right now, but it’s good to write down your goals somewhere so you have a reminder of your plan.

Use Fiona to get matched with a savings account!SEE RATESSpend

This is often people’s first instinct when they have some extra cash—they want to spend it. And while spending isn’t necessarily a bad thing, spending thoughtlessly can limit your financial future. For some, quality of life is very important, so they choose to use extra cash to make a significant purchase like going on vacation, buying a new car or getting that new tech toy.

However, if you have a financial plan, you can spend your money knowing that it still serves your financial future and goals. Careful spending habits are a must for people seeking financial independence.


Having a separate account with an emergency fund may help keep you from going into debt if you have unexpected expenses like car maintenance or healthcare costs. On top of that, regularly saving extra money helps you form good financial habits, and can help you be more financially secure in the future. Lastly, if one of your financial goals involves a large purchase, then saving might be the right choice for your extra cash. 

Some savings accounts with higher APYs even help your funds grow over time! Sound appealing? If it does, you’re in luck! There’s an easy way to get matched with savings accounts and compare them by APY— try out Fiona!


Investment is also a great habit that will help you pursue your financial goals. When you do invest, the funds are usually locked up so you cannot easily access them. This means if you need emergency funds, you either cannot access the money or might have to pay a penalty to access it. Investment is a great way to diversify your financial portfolio so you can have assets. However, investments always carry associated risk because there’s always a chance the market could tumble. Getting professional advice from a stockbroker can help you make the most informed decision.

The Choice Is Yours

When you have funds that start accumulating month to month, it’s a great sign, as it means you’ve been budgeting well! With that in mind—it’s up to you to decide what to do with those extra dollars and cents! If you decide to spend it or invest it, you should do research to do so efficiently. If you’re looking to stash it away, and let it accumulate interest in a savings account over time—that’s great—as there is an easy way to get matched with the right one for you! A financial search engine like Fiona is an easy option to get matched with personalized savings account offers, matching you with accounts in less than 60 seconds!

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