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Take My Free Advice And Manage Your Cash At The Bank
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Take My Free Advice And Manage Your Cash at the Bank

Take my advice and manage your cash at your bank. Being that the advice is free, you can certainly take it for what it is worth. But with the volatility of the stock market, your bank is the safest place to keep, manage, and invest your money. Are you a saver or investor? There is no right or wrong answer here. Just a difference in how you view the cash you have accumulated.

So, what is the difference between a saver and an investor? A saver will typically accumulate money in order to keep it and not risk the possibility of losing it. An investor will typically accumulate money in order to use it to "grow" itself and fully understands there is risk in doing so. Regardless of whether you consider yourself a saver or investor, a bank can manage your cash either way.

1.Bank Accounts-If you are a saver this is where you will feel most comfortable putting your money. Keeping your cash in a checking or savings account provides plenty of peace of mind. The risk of losing it is extremely low. Most banks are insured by the FDIC and the money you have in these accounts would be safely kept. In addition, the money kept here would earn interest. As a saver, you are getting the best of both worlds.

2.Certificates of Deposit-These savings certificates are commonly referred to as CD's. CD's are a great way to keep your money in the bank as a low risk investment. If you are an investor and low risk at that, this is a great way to manage your money at the bank. In essence, you can loan the bank, in the form of a CD for a specified amount of time, at a specified rate, any amount of money you would like. The term(amount of time the bank will hold your money)of this CD can be anywhere from one month to 5 years. Typically the interest you earn on these accounts can be anywhere from 1%-4% and, like your bank account, is insured by the FDIC.

3.Savings Bonds-You can purchase a savings bond from your bank for as little as $25. Again, safety is the main reason you would want to invest in a savings bond. There bonds are issued by The US Treasury Department and are backed by the Uniteds States Government. Savings Bonds do earn interest and because they are backed by the government,both principal and interest earned can not be lost if the major financial markets are weakened.

How to manage money better is important for both savers and investors. Using bank accounts, certificates of deposit, and savings bonds allows a saver to invest, and an investor to save. If you utilize your bank, it doesn't matter if you are a saver or investor. You get to have your cake and eat too!

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