In today’s world, every penny counts. But did you know that your bank could be doing more for you? You might be surprised to learn that there are several ways to squeeze more passive income out of your existing accounts. Here are 9 strategies to turn your bank into a money-making machine: 1. Interest Checking…
The Certificate of Deposit (CD) is a Type of Deposit
The CD is an account that you can open at a bank, credit union, or online financial institution. A CD lets you hold money for a specific amount of time and earn interest. Discover how a Certificate of Deposit can benefit you.
To break it down, APY, or Annual Percentage Yield, is the interest you earn on money stored in a savings account, while APR, or Annual Percentage Rate, is the interest you owe when you borrow from the bank. It’s important to know the difference between these two key terms as they impact your finances, especially when investing or taking…