So today I decided to take a look at my Money Market account, which I usually try to check only once a month, and saw that the interest rate went from 5.30% to 4.90%. I was surprised that my initial reaction wasn’t disappointment but rather quite passive. There was a point in time where I used to think that every one hundredth of a percent counted and mattered and that I would find the best money market account accordingly. But the...

Today I just opened up a Money Market Savings account with GMAC Bank. It’s great because it’s just like a checkings account with a super high interest rate. I mean why not make some interest while my money sits in my checkings account right? So my plan is to make this new account my primary checkings account and also as well as my savings account. Here are some Benefits of the account: The interest rate for this money market...

Scenario: So you’ve got a nice stash of cash just laying around and you want them to be put to work. You also figured that you didn’t want to be too aggressive buy investing directly in stocks and at the same time you don’t want to invest in long term either so that rules out mutual/index funds. So then you ask, “should I put my money in a CD or a Money Market”? Good question. In order to make the right...

As many of you know, the importance of investing is crucial. Since investment is tied with time, it’s also obvious that the sooner you start your investment portfolio, the better and bigger your outcome. Today we’re going to look at the individual retirement account, or also known as the IRA. In short,  IRA is an personal, tax-advantaged retirement plan. An employed person can contribute earned income into an IRA account up to...

Time, more than money, can help you achieve your life goals. If you have a future in mind, whether it’s a home, starting a family, going to college, or building a nice nest egg, the main problem of achieving your goal is that money is tight and hard to come by. The best tool you could use to help achieve that goal is time. It doesn’t take that much,  but just good time management and a simple plan which you can stick to. When...

One of the most important life lessons you can teach your kids is to develop successful money management habits  and  a sense of financial responsibility. When it comes to teaching your kids about money, the sooner they learn the better. Help your child understand the value of saving money.  Here is where you start showing them the importance and the  benefits of saving money. This can be done with a simple but balanced form of an...