Saving

Insight Card: A Step-By-Step Guide to 5% Interest

Last Updated on October 10, 2018February 18, 2017 625 Comments
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One of the things I like doing is figuring out ways to get the maximum yield on my cash. Most people just accept whatever their bank offers them. The problem is that even your highest yielding savings account pays you just 1% interest these days.

What a lot of people don’t know is that there’s an entire world of super high yield savings accounts out there. These are savings accounts that pay way more than even your highest paying online savings accounts. The thing about these accounts is that you won’t find them at any normal bank. They’re sort of secret, and you can only find them “hidden” in prepaid debit card products.

Netspend Account: 5% Interest Savings and $20 Signup Bonus

Last Updated on January 24, 2020January 28, 2017 414 Comments
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Most people don’t believe it, but even in today’s market, you can still earn 5% interest on money sitting in an FDIC insured savings account. It does require a little bit of legwork to set up, but once you’ve done it, the entire account is completely automated.

For most people, a 5% interest savings account is a perfect place to store your emergency fund. It’s where I store my emergency fund. And depending on how much you like to keep in your emergency fund, you could potentially have your entire emergency fund earning 5% interest per year.

Wealth Is Relative – Remember This And Be Happier

Last Updated on May 15, 2017January 19, 2017 48 Comments
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I think that wealth, much like temperature, is relative too. One person might feel wealthy making a certain amount of money while another person, making the same amount of money, might feel like they’ve only got pennies to their name. Some of us might scoff when a doctor or lawyer says they don’t make enough money and are living paycheck to paycheck. When this happens, we wonder how someone making six figures can spend so much money.

Aim To Max Out All Of Your Retirement Accounts This Year

Last Updated on January 3, 2017January 3, 2017 34 Comments
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We should all have some amount that we aim to save every year. The great thing is that in the United States, the government basically gives you an amount to aim for each year in the form of retirement accounts. Since the government limits what you can put into each of these tax-advantaged accounts, it’s an easy goal to try to reach.

I think at minimum, everyone should aim to save enough each year to max out all of their retirement accounts. When you think about it, it’s not really all that hard to do. Just set up your automatic contributions once at the beginning of the year. Then do the most important thing you can do when it comes to investing – nothing!

52 Week Money Challenge 2017: The Easiest Way To Save $1,378

Last Updated on June 5, 2017December 29, 2016 14 Comments
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As we close out 2016, I thought I’d issue probably the easiest call to action out there – the 52 Week Money Challenge. This is by no means an advanced money concept. Still, I think it’s a good thing for anyone to do, no matter where you are in your financial journey. We all should have some money set aside for emergencies. And the 52 Week Money Challenge is an easy way to keep that emergency fund topped off each year.

I first learned about the 52 Week Money challenge a few years ago when I started getting interested in personal finance. You have to start somewhere and I was looking for ways to push myself just a little bit more. When you’ve got money coming in, it’s pretty easy to get lazy with your paycheck. Even if you think you’re saving money, a lot of it can slip through your fingers if you don’t put it to use somewhere else.