How can I save money while on disability?

I'm a 19 year old female and thinking about going to college next year. If I have over $20,000 in my savings account and receive $1,350 every month from disability while living at my parent house. How should I save my money and where should I put it? My mom wants $200 a month in rent and I don't own a car. I've been putting my funds in a savings account with barely any interest. I want to put them somewhere else for the long term. I have no credit debt.

Disability Insurance, Women & Money
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January 2018

If you have $20k in savings account already, I'd recommend moving that over to a High Yield Savings Account like what American Express offers ( so you can be earning higher interest while still keeping it liquid, insured, and principal protected. You could also open a Standard Brokerage account at some place like Vanguard ( and put a portion of the funds (I would not put all due to being on a fixed income and unable to work) into a very conservative municipal bond fund. Vanguard ETF's are very low cost, and municipal bonds provide a stated coupon (interest rate) that is earned tax-free. Either of those options is going to give you better earning potential than just leaving it where it is now. 

January 2018
January 2018