No. of Recommendations: 1
Hello fellow fools!

I am new to this community, and am trying to learn all I can about investing. I opened a Betterment account, where I put a very small amount in each month (1 month in) but am curious if anyone has advice for me and my situation?

I am a single mom and a full time student at UCLA. I am going into MAJOR debt to fund my education, am currently a fourth year senior, but am taking one more year to double major and then am planning to continue on for an MFA in screenwriting.

I am old (by student standards) 37, so I will be 40 (41 about a week after I walk the line) at the completion of my MFA.

I am living entirely on loans and financial aid, don't work because I had a very weak education (was pulled from school in 7th grade, got GED) to keep up with the rigorous coursework at UCLA I need to study, A LOT! Plus, as stated above, I am a single mom. My son is 11, so he doesn't need constant care, and he is a lot of help, but I also don't want to place responsibilities on him that takes away from his childhood.

So, when I get financial aid deposited, I have been keeping it in savings and pulling as needed for rent, living expenses, etc. Should I be keeping this money in savings, or would it be better to move it all to Betterment (I read you can withdraw as needed without transaction fees) Obviously, this money is being used to live on, and living in LA is not cheap, but I do get lump sums, so that would be money sitting in there for a few months.

Is it ridiculous to use this money in this way? I know next to nothing about investing (recently signed up for the fools 13 step email) but you have the ability to set the account to safe... my question is, is "safe" in such an account actually safe, or is it better to keep the money in a traditional savings account while attending school and just continue with my meager contributions (for habit)?

Thank you for your advice, much appreciated!
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