Certificate of Deposit

Strike a Balance between Spending and Saving

There are three kinds of people in this world: excessive spenders, misers, and people who know how to balance their spending. And you don’t want to fall in the first two categories.

An excessive spender is a person who makes extravagant expenses, such as luxury watches, expensive dinners or entertainment expenses, even if he is not rich enough to afford all these. He spends money as soon as he has saved up enough for his next purchase. [Read more…]

Withdrawing CD Money before Maturity can be Expensive

Certificate of Deposits (CDs) as we all know are bank accounts in which the customer deposits a minimum balance for a fixed period. These accounts offer higher interest rates than savings accounts but have a hefty penalty if you withdraw your money before maturity period of the deposit. [Read more…]

Basic Guide to a Certificate of Deposit

A certificate of deposit is a low risk investment and gives higher returns than saving accounts. It operates by taking a certain amount as investment for a fixed period that can be anything from one month to even more than five years. CDs are issued by banks and the Federal Deposit Insurance Corporation (FDIC) insures them up to $250,000, which means they come with a guarantee from the U.S. government. [Read more…]