Banklady Credit Doctor

Tag: savings

  • Simple and Easy Ways to Invest Money Starting with Pocket Change

    Acornsinvesting

    Investing these days is much simpler than it was in the past and is not always a one-size fits all for everyone. Mainly because as the market has grown people have different strategies, different goals with small vs. large amounts to invest in risky or conservative investments.

    We have put together a list of ways to invest that are simple and do not require a huge amount of money. You can actually just invest pocket change to a few dollars each time.

    These are different ways to invest that are not the norm compared to a retirement plan at work such as a 401(k) or 403(b) where your employer is in charge. These plans normally only deal with a brokerage and plan the employer choose. These are great for tax advantages and investing in your future especially due to the employer matching. In addition to your employer plan or if you do not work a traditional job and work from home you need ways to invest your money without all the brokerage hassles.

    Acorns is a free mobile app with plans for a web-based application. This app allows you to automatically invest your digital spare change beginning with $5. You basically give the Acorns app permission to round up your purchases on debit or credit cards and then invest the difference by automatically pulling it out of your bank checking account.

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  • WaMu Helps you Save With 5.00% APY

    If you think that high interest accounts are only for the rich then think again. Washington Mutual bank (WaMu) is helping people save money for retirement and future emergencies down the road. The new Savings account promotion will get you 1 year for 5.00% interest when you deposit as little as $1 to start up the account.

    The high interest savings account works by taking money out of your WaMu checking account and depositing that money in your savings each month. The transfers would be $25 to $500 each month which are low enough that you may not even notice helping save for college or your future.

    You cannot put more than $500 in the account more than once a month so those of you with large amounts of money sitting around you should consider their CD at 3.25% APY. This 5% account is mainly intended to help families or people save money who are not good at saving money and helping them do that at a higher interest rate.

    To get into this great deal go into your local WaMu in Georgia, Illinois, Texas, or Washington and ask them to open a Savings for Success account. If you do not live in any of these areas I would recommend that you check out the other WaMu offers online where you can normally get the best deals on higher yields.