After 11 interest rate hikes between early 2022 and mid-2023, the Federal Reserve lowered the interest rate earlier this fall. The Federal Funds Target Rate spiked from a meager .25% in 2020-22 to 5.5%, and it remained there for more than a year until it was lowered by 0.5% in September 2024. Those high interest… Continue reading Here’s How Much You’ll Earn in a Year If you Invest $10,000 in a CD Now
A checking account can help you cover your bills and manage your everyday expenses. If you have one, you might wonder how much money to keep in it. The goal is to ensure you have enough funds to cover your day-to-day bills but not too much that you miss out on potential higher returns elsewhere.… Continue reading How Much Money Should You Keep in Your Checking Account?
If you’re looking for a better way to save and grow your money, you could try a high-yield savings account or traditional CDs. However, if you’re comfortable with a little risk, you might consider a brokered certificate of deposit (CD) account instead. What Are Brokered CDs? Brokered CDs are time deposit accounts that are sold… Continue reading Why I’m Using Brokered CDs to Earn More Interest
Certificates of deposit (CDs) appeal to many savers and investors because they offer fixed returns with almost none of the potential risk factors associated with other types of investments. The Federal Deposit Insurance Corp. also insures CDs for up to $250,000. Certificates of deposit have grown in popularity in recent years as the Federal Reserve… Continue reading Minding Your Bank: Why You Have to Be Careful When Your CD Matures
Whether you’re new to saving money or looking to improve your strategy, categorizing your savings is a brilliant way to visualize your financial goals. Also known as bucketing, this concept allows you to organize your financial goals and save for a variety of short- and long-term goals. Learn how splitting your savings into buckets works… Continue reading Boost Savings and Stay Motivated by Putting Your Money into Buckets
It’s all too easy to forget about your checking account, especially if you know you have enough money for your expenses. However, keeping a close eye on your account is essential if you’d like to stay on top of your spending, increase your savings, and catch fraudulent activities. Fortunately, electronic banking makes it easy to… Continue reading Stop Bank Fraud and Fees: Benefits of Monitoring Your Checking Account
Earning money on your savings used to be rather tricky since meager interest rates made gains minimal to negligible. However, if you’ve been paying attention to interest rates on savings vehicles, you’ve likely noticed that they’ve ticked up as the Federal Reserve hiked interest rates to combat rising inflation. Chances are, you could be earning… Continue reading Earn the Best Interest Rates on Your Money Even If Rates Change
Running out of money is about as much fun as getting a flat tire on a busy freeway. If you’ve ever wished your bimonthly payday could come a bit earlier because you are in dire need of money, you might be in luck if your financial institution offers early direct deposit. In this guide, we’ll… Continue reading How to Get Your Paycheck Early: 20 Banks That Offer Early Direct Deposit
While typical checking accounts don’t accumulate interest, interest-bearing checking accounts blend the functionalities of traditional checking with the ability to earn interest. In this comprehensive guide, we delve into the workings of interest-bearing checking accounts and essential considerations if you’re considering opening one. What Is an Interest-Bearing Checking Account? Also known as an interest checking… Continue reading Best Interest-Bearing Checking Accounts in 2024
Ancient Greek philosopher Aristotle reasoned that the primary purpose of money was as a medium of exchange for goods and services. Those of us living in the 21st century know that money serves many more functions, including the ability to earn more money on savings and other types of interest-bearing accounts. With a bit of… Continue reading How Can You Earn the Most Interest on Your Money?
