WELCOME BACK TO "ABC NEWS LIVE" . . IT IS TIME NOW FOR OUR WEEKLY IT IS TIME NOW FOR OUR WEEKLY SEGMENT. SEGMENT. ASK ALEXIS WHERE BUSINESS ASK ALEXIS WHERE BUSINESS REPORT ALEXIS CHRISTOFOROUS REPORT ALEXIS CHRISTOFOROUS SHARES FINANCIAL ADVICE SHARES FINANCIAL ADVICE ON THE TOPICS THAT MATTER MOST ON THE TOPICS THAT MATTER MOST TO YOU. TO YOU. AND TODAY SHE IS ANSWERING AND TODAY SHE IS ANSWERING YOUR QUESTIONS ON DOWN PAYMENTS YOUR QUESTIONS ON DOWN PAYMENTS AND MASTER'S DEGREES. AND MASTER'S DEGREES. SO LET'S TALK A LITTLE BIT SO LET'S TALK A LITTLE BIT ABOUT THAT, ALEXIS . ABOUT THAT, ALEXIS . LET'S START WITH CAITLIN FROM LET'S START WITH CAITLIN FROM ALEXANDRIA. ALEXANDRIA. VIRGINIA. VIRGINIA. CAITLIN SAYS, I'M SAVING TO BUY CAITLIN SAYS, I'M SAVING TO BUY MY FIRST HOME IN THREE OR MY FIRST HOME IN THREE OR FOUR YEARS. FOUR YEARS. SO WHERE WOULD YOU RECOMMEND SO WHERE WOULD YOU RECOMMEND INVESTING OR SAVING THE MONEY INVESTING OR SAVING THE MONEY FOR THE DOWN PAYMENT? FOR THE DOWN PAYMENT? >> ALL RIGHT. >> ALL RIGHT. HEY, DIANE , THANK YOU . HEY, DIANE , THANK YOU . AND KAITLIN, THANKS FOR AND KAITLIN, THANKS FOR YOUR QUESTION, BECAUSE WHEREVER YOUR QUESTION, BECAUSE WHEREVER YOU CHOOSE TO PUT YOUR DOWN YOU CHOOSE TO PUT YOUR DOWN PAYMENT MONEY, IT NEEDS TO BE PAYMENT MONEY, IT NEEDS TO BE THREE THINGS. THREE THINGS. IT NEEDS TO BE EASILY IT NEEDS TO BE EASILY ACCESSIBLE, SAFE AND ALSO ABLE ACCESSIBLE, SAFE AND ALSO ABLE TO ACCESS ON A REGULAR BASIS. TO ACCESS ON A REGULAR BASIS. SO LET'S BREAK THIS DOWN FOR SO LET'S BREAK THIS DOWN FOR YOU . YOU . THE STOCK MARKET MIGHT GIVE YOU THE STOCK MARKET MIGHT GIVE YOU THE BEST OVERALL RETURN, BUT THE BEST OVERALL RETURN, BUT INVESTMENTS ARE NOT FDIC INVESTMENTS ARE NOT FDIC INSURED. INSURED. AND IF THERE IS A MARKET AND IF THERE IS A MARKET MELTDOWN BETWEEN NOW AND WHEN, MELTDOWN BETWEEN NOW AND WHEN, YOU NEED YOUR MONEY, YOU COULD YOU NEED YOUR MONEY, YOU COULD WIND UP LOSING SOME OR ALL OF WIND UP LOSING SOME OR ALL OF YOUR DOWN PAYMENT. YOUR DOWN PAYMENT. SO INSTEAD, CONSIDER A HIGH SO INSTEAD, CONSIDER A HIGH YIELD SAVINGS ACCOUNT OR YIELD SAVINGS ACCOUNT OR A MONEY MARKET ACCOUNT. A MONEY MARKET ACCOUNT. EACH OF THOSE ARE OFFERING EACH OF THOSE ARE OFFERING INTEREST RATES RIGHT NOW THAT INTEREST RATES RIGHT NOW THAT ARE EIGHT TO 20 TIMES ARE EIGHT TO 20 TIMES THE NATIONAL AVERAGE. THE NATIONAL AVERAGE. AND AS YOU HEARD ME SAY A LOT AND AS YOU HEARD ME SAY A LOT OF TIMES BEFORE, YOU ARE GOING OF TIMES BEFORE, YOU ARE GOING TO FIND THE MOST COMPETITIVE TO FIND THE MOST COMPETITIVE INTEREST RATES AT ONLINE BANKS. INTEREST RATES AT ONLINE BANKS. PLUS, YOU CAN CONTINUE TO THOSE PLUS, YOU CAN CONTINUE TO THOSE ACCOUNTS AND BUILD UP YOUR DOWN ACCOUNTS AND BUILD UP YOUR DOWN PAYMENT. PAYMENT. THAT'S ANOTHER NICE THING. THAT'S ANOTHER NICE THING. ABOUT THAT. ABOUT THAT. BUT YOU'RE GOING TO WANT TO BE BUT YOU'RE GOING TO WANT TO BE SURE TO COMPARE THINGS LIKE SURE TO COMPARE THINGS LIKE DEPOSIT REQUIREMENTS, INTEREST DEPOSIT REQUIREMENTS, INTEREST RATES, MINIMUM BALANCE RATES, MINIMUM BALANCE REQUIREMENTS AND FEES AND MAKE REQUIREMENTS AND FEES AND MAKE SURE THAT, OF COURSE, SURE THAT, OF COURSE, THEY'RE FDIC INSURED. THEY'RE FDIC INSURED. BUT REMEMBER, RATES FOR HIGH BUT REMEMBER, RATES FOR HIGH SAVINGS AND MONEY MARKET SAVINGS AND MONEY MARKET ACCOUNTS CAN GO UP OR DOWN AT ACCOUNTS CAN GO UP OR DOWN AT ANY TIME. ANY TIME. SO IF YOU WANT TO LOCK IN AN SO IF YOU WANT TO LOCK IN AN INTEREST RATE RIGHT NOW INTEREST RATE RIGHT NOW AND THEY'RE PRETTY ATTRACTIVE, AND THEY'RE PRETTY ATTRACTIVE, YOU MIGHT WANT TO OPEN UP YOU MIGHT WANT TO OPEN UP A CERTIFICATE OF DEPOSIT THAT A CERTIFICATE OF DEPOSIT THAT FITS YOUR TIMELINE. FITS YOUR TIMELINE. SO MAYBE THAT'S A CD THAT SO MAYBE THAT'S A CD THAT MATURES IN TWO TO THREE YEARS. MATURES IN TWO TO THREE YEARS. AND HERE'S WHAT I LIKE ABOUT AND HERE'S WHAT I LIKE ABOUT THAT, KAITLYNN, SINCE YOU CAN'T THAT, KAITLYNN, SINCE YOU CAN'T ACCESS YOUR MONEY DURING THAT ACCESS YOUR MONEY DURING THAT TIME, YOU WON'T BE TEMPTED TIME, YOU WON'T BE TEMPTED TO DIP INTO IT AND YOU'LL STILL TO DIP INTO IT AND YOU'LL STILL BE ABLE TO WITHDRAW THAT MONEY, BE ABLE TO WITHDRAW THAT MONEY, HOPEFULLY IN TIME FOR THAT DOWN HOPEFULLY IN TIME FOR THAT DOWN PAYMENT. PAYMENT. >> AND ALEXIS HERMAN FROM >> AND ALEXIS HERMAN FROM PITTSBURGH WANTS TO KNOW, IS IT PITTSBURGH WANTS TO KNOW, IS IT A GOOD IDEA TO GO FOR A GOOD IDEA TO GO FOR MY MASTER'S DEGREE? MY MASTER'S DEGREE? IF IT MEANS GETTING A LOAN IF IT MEANS GETTING A LOAN AND TAKING ON MORE DEBT, MAYBE AND TAKING ON MORE DEBT, MAYBE IT'S WORTH IT IF MY HIGHER IT'S WORTH IT IF MY HIGHER DEGREE HELPS ME EARN MORE MONEY DEGREE HELPS ME EARN MORE MONEY IN THE LONG RUN. IN THE LONG RUN. >> WELL, THIS IS A HOTLY >> WELL, THIS IS A HOTLY DEBATED TOPIC FOR A LOT OF DEBATED TOPIC FOR A LOT OF PEOPLE. PEOPLE. >> BUT BEFORE YOU JUMP IN >> BUT BEFORE YOU JUMP IN AND APPLY FOR THAT MASTER'S AND APPLY FOR THAT MASTER'S DEGREE, I WANT YOU TO DO DEGREE, I WANT YOU TO DO SOMETHING. SOMETHING. I WANT YOU TO TALK TO THE I WANT YOU TO TALK TO THE PEOPLE ALREADY WORKING IN PEOPLE ALREADY WORKING IN THE FIELD, THOSE WHO HAVE AND THE FIELD, THOSE WHO HAVE AND THOSE WHO DO NOT HAVE THAT THOSE WHO DO NOT HAVE THAT EXTRA DEGREE AND ASK THEM, DID EXTRA DEGREE AND ASK THEM, DID THEY REALLY NEED IT? THEY REALLY NEED IT? WAS IT WORTH IT? WAS IT WORTH IT? OF COURSE, THERE WERE OF COURSE, THERE WERE SOME INDUSTRIES WERE HAVING AN SOME INDUSTRIES WERE HAVING AN ADVANCED DEGREE IS REQUIRED IN ADVANCED DEGREE IS REQUIRED IN ORDER TO MOVE ON , LIKE BEING ORDER TO MOVE ON , LIKE BEING A PROFESSOR OR A DOCTOR. A PROFESSOR OR A DOCTOR. OR A LAWYER. OR A LAWYER. AND IN SOME FIELDS, THE HIGHER AND IN SOME FIELDS, THE HIGHER DEGREE COULD REALLY MEAN HIGHER DEGREE COULD REALLY MEAN HIGHER EARNINGS POWER. EARNINGS POWER. I KNOW THAT I , I HAVE A NUMBER I KNOW THAT I , I HAVE A NUMBER OF FRIENDS IN THE BUSINESS OF FRIENDS IN THE BUSINESS WORLD WHO HAVE MASTER'S WORLD WHO HAVE MASTER'S DEGREES, BUT IT DIDN'T HELP DEGREES, BUT IT DIDN'T HELP THEM EARN MORE MONEY. THEM EARN MORE MONEY. SOMETIMES REAL WORK EXPERIENCE SOMETIMES REAL WORK EXPERIENCE CAN BE JUST AS VALUABLE IF NOT CAN BE JUST AS VALUABLE IF NOT MORE VALUABLE THAN THAT MORE VALUABLE THAN THAT ADVANCED DEGREE, DEPENDING ADVANCED DEGREE, DEPENDING ON THE INDUSTRY. ON THE INDUSTRY. FOR EXAMPLE, AFTER I GRADUATED FOR EXAMPLE, AFTER I GRADUATED FROM NYU, I JUMP STARTED FROM NYU, I JUMP STARTED MY BROADCASTING CAREER AT MY BROADCASTING CAREER AT A RADIO STATION AND DECIDED NOT A RADIO STATION AND DECIDED NOT TO GO TO GRADUATE SCHOOL. TO GO TO GRADUATE SCHOOL. SO, DIANE , I THINK THIS IS A SO, DIANE , I THINK THIS IS A VERY PERSONAL QUESTION FOR LOTS VERY PERSONAL QUESTION FOR LOTS OF FOLKS, AND IT REALLY COMES OF FOLKS, AND IT REALLY COMES DOWN TO WHAT INDUSTRY DOWN TO WHAT INDUSTRY YOU'RE LOOKING YOU'RE LOOKING ALEXIS CHRISTOFOROUS. ALEXIS CHRISTOFOROUS. THANKS FOR THAT. THANKS FOR THAT. AND IF YOU WANT TO ASK AND IF YOU WANT TO ASK ALEXIS ANY PERSONAL FINANCE ALEXIS ANY PERSONAL FINANCE QUESTIONS, JUST LEAVE A MESSAGE QUESTIONS, JUST LEAVE A MESSAGE ON OUR INSTAGRAM FEED