Damn I see no matter what Ima have to do hella research. No idea what mutual funding is, all this is new to me. I'm assuming it has to be some type of banking account. Rn, all I have are them paycards Chime & Varo (unemployment come in on my Varo) but I could obviously transfer funds.
I'm also trying to boost my credit score (its mid 500s...never used it) to get a crib.
Yea you need a bank account to transfer your money from the bank account to your brokerage account (TD Ameritrade, robinhood, Charles Schwab etc..)
A share of a mutual fund is like a share of a stock, except a mutual fund is a collection of stocks.
So let's say American airlines as a stock is $10 a share.
You could find a mutual fund that invests in American airlines and other stocks and also has a share price of $10 a share.
The mutual fund is more stable because of one of the stocks in the collection dips you have others to slow down the risk
For credit get a credit card , secured possibly and start swiping