Money markets and certificate accounts both offer safe places to stash your excess cash while earning interest, but which is the right choice for you? We take a look at how money market vs. certificate accounts work and which is best for different kinds of savers. Smart Saving Choices: Money Market vs. Certificate If you’re looking to start putting money aside from your monthly budget, then both money market accounts and certificate accounts offer safe places to start building a nest egg for retirement, college, a wedding, or a down payment on a car. While both offer great launchpads for your savings, there are important differences in how they work…. read more »

Certificate accounts are popular investments that many use to grow their savings. Setting up an account is very easy to do. It can be done in just a few minutes in six simple steps. What Is a Certificate Account? A certificate account is a type of investment that is offered by credit unions. Certificate accounts can be used for both short-term and long-term savings goals. A short-term certificate could be used to help you save for new appliances or furniture, for example. You could also open a 60-month certificate to help you save for a down payment on a house. An important benefit of certificate accounts is that the money… read more »

With 2020 in the books, I’d love to look at my finances to get on track for 2021. How do i start? This question is asked more then you may think. Having a financial review at the end of a year is important in helping prepare you for financial success in the year to come. This simple step-by-step process can get you ready to grow financially for the coming year. End-of-Year Review Process Giving yourself an end-of-year financial review is a wonderful way to check on the progress you’ve made toward your goals, highlight areas needing improvement and update your accounts, funds and investments. Here’s all you need to know… read more »

As the clock ticks down on 2020, the most wonderful time of the year is here. However, as it feels great to have some holiday cheer, not everything is merry and bright, specifically your wallet. No matter how much you budget, this time of year seems to always put a damper on your bank account. Food, presents, parties, gas, and cards are some of the many things you need to budget for during the holiday season. But what can you do to keep spending to a minimum? Check out these helpful tips on how to save money during the holidays! Store Apps Store apps are a great way to save… read more »

Budgets can be used for many purposes in a personal finance framework, including paying off debt, managing wealth, and padding retirement accounts. However, many people find the process of creating or sticking to a budget difficult, frustrating, and perhaps a little annoying.  This is not an unusual sentiment. In fact, only two out of every three households choose to budget their income monthly. This percentage of use goes down as populations age, making budgets a highly suggested but infrequently implemented practice.  It is important to remember that the goal of a personal budget is not to restrain financial freedom, but to liberate consumers from the uncertainty surrounding their funds.   What… read more »

Saving money is an essential yet often tricky financial task for many people – even those with a relatively high income.  An article by Yahoo! Finance reported that only 58% of Americans could even afford to pay for a $1,000 emergency in cash. A 2018 article by CNN Markets found that only 28% of Americans have 6 months worth of expenses saved.  No matter what your annual salary, many like you are wondering how to save money each month, so you don’t find yourself without savings when you need it most.  4 Tips For How To Save Money From Salary Keep reading to discover how to save money from your… read more »

Banks and credit unions offer a variety of options when you want to store your money. The key to making the best decision is taking your current financial needs and goals into consideration. Money Market Account vs. Savings Account Two popular options are the money market account and basic savings account. This post will outline the difference between the two, the pros, and cons of each option, and how to choose the best one that suits your financial needs. What Is A Money Market Account? A money market account is also known as a money market deposit account (MMDA). It is an interest bearing account which provides a higher interest… read more »

Many of us are guilty of opening a checking and/or savings account but not fully understanding their benefits or how to use them properly to make the most of our money. Each account has a different purpose and function, so understanding the differences helps you choose the right combination for you. This can help you manage your personal finances, minimize overspending and make your hard earned money go further. What Is A Checking Account? A checking account allows you to write checks, or withdrawal funds, as an everyday way to pay others. In the not so distant past, this was primarily done in the form of paper checks – documents… read more »