Make Your Money Grow

We can all earn a paycheck, but how do you earn a living? The affiliate space has enabled that very thing for countless individuals.  But during these tough economic times, how can you make your hard earned money go farther, or make it grow, as it were? For instance, where can you find a low-risk, interest earning investment vehicle?

I don’t give legal, tax or investment advice, as I am not a professional in any of these areas.  However, I perused the FDIC website, and what I can say is that a certificate of deposit or CD, makes financial sense. I’m all for making more money, and a CD basically is  a special type of deposit account with a bank or thrift institution that typically offers a higher rate of interest than a regular savings account. Unlike other investments, CD’s feature federal deposit insurance up to $250,000, which provides you a safety net.

Additionally CD’s provide an effective means of obtaining a safe ROI because, unlike market-based investments, such as mutual funds or annuities, you aren’t directly tied to fluctuations in the stock market. When you buy a CD, you make an investment in a bank. The bank will use that money to invest in profitable ventures such as issuing mortgages and corporate loans. As an investor, you earn a return in the form of  interest when your CD matures.

The maturity term can range from three months to five years or more. The longer the duration, the higher the CD interest rates you should receive. Once  the CD matures, you can cash out or renew.

Money savvy individuals say that “The more you make, the more you should save”. So visit your local bank and inquire about this unique way to save.  Compare rates and then go online.  There are a few online banks that are FDIC insured that offer savings rates that may exceed the national average. Make sure the one you choose is ranked among Bankrate.com’s Top Tier for high yields on all types of savings.

Educate yourself and make your money grow…