Startup cost: $100 - $500

Setup costs range from $100 to $500 depending on the approach taken. At the bare minimum, one would need to open a high-yield savings account, which typically requires no initial deposit or a very low one. However, to take it seriously and have a more substantial starting balance, one could invest around $500. This money is spent on depositing into the savings account to start earning interest. Essential costs include the initial deposit while optional expenses might include setting up a separate savings account for this purpose. There are usually no hidden fees associated with opening a high-yield savings account. The initial investment is seen as low-cost and straightforward, but the more you commit, the more you can potentially earn in interest over time.