DON’T HOLD CASH: Use THIS Instead
Interesting reviews about Credit Card Offers, Prepaid Card, Business Loan UK, and Us Bank Money Market Deposit Account, DON’T HOLD CASH: Use THIS Instead.
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Unfortunately, if you have any amount of cash whatsoever, most likely you’re losing money without even realizing it…here’s why, and 4 alternatives to prevent this from happening. Enjoy! Add me on Instagram: GPStephan
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Ok, so first things first: Holding cash is bad. Now when I mean “holding cash,” I don’t mean like you’re actually just holding cash…don’t take that term literally. Instead, I’m referring to either keeping a ton of cash laying around under couch or a mattress because you don’t trust banks or something, or maybe you just keep your money in a checking account or regular savings account – which, unfortunately, is what most people do, and that ends up unknowingly costing them money. Don’t do that.
And this is why you should avoid that: INFLATION. This means that the value of your money DECREASES every single year, because…summed up…the country prints more money than there is value. In 99% of situations, when you just keep cash as cash…you lose money. If you keep money in a checking account, you lose money. If you keep cash in a normal savings account earning .1% interest, you lose money. This is bad. And that’s where most people make the mistake of losing money without even realizing it. So with that said, here are 5 options so you can avoid this:
The FIRST place you can put your money is a high interest, FDIC-insured savings account:
Ally Bank: 2.2% Interest on their savings account
Marcus by Goldman Sachs: 2.25% on their savings account
PNC bank: 2.35% on their savings account
CIT Bank: 2.45% interest for accounts that have a balance above $25,000.
SECOND, if you want a SLIGHTLY better return and don’t need the money immediately, your next option is a CD.
Ally Bank 12-month No Penalty CD: 2.3% interest
Capital One 360 12-month CD: 2.7% interest
Marcus By Goldman Sachs 12-month CD: 2.75% interest
Syncrhony Bank 12-month CD: 2.8% interest with $2000 minimum deposit
Third: TREASURY BILLS.
This is basically a short term “loan” you give, and in return for lending them money, they pay you back with interest. The good thing about Treasury Bills, and a HUGE advantage over anything else, is that they’re not subject to local or state level taxes…so for people in high tax states like California or New York, this could save you a TON of money in taxes!
So the way this works is you can go on TreasuryDirect.gov, make an account, and then purchase 4-week treasury bills, which currently pay 2.428% interest annually. You can also set this up to re-invest every 4 weeks, so that way you’re constantly getting a high rate of return – tax free on the state level – without thinking about it.
Fifth Option: buying a bond.
For instance, we have the Vanguard High-Yield Corporate Fund Investor Shares (VWEHX)…this pays a whopping 6.1% right now, which works out to be 5.87% after fees. Now this is NOT a risk free return, the price of the bond COULD go down, the payout of the bond COULD go down…or they could both go UP and you make more money. But for someone willing to take a little more risk with their money, this is a decent way to take a LITTLE risk with some decent upside.
https://investor.vanguard.com/mutual-funds/profile/VWEHX
Or, you have the total bond market index VBMFX…after expenses, you’re looking at about a 2.9% annual return. And this one is much less volatile.
https://investor.vanguard.com/mutual-funds/profile/VBMFX
Nonetheless, this could be a decent option if you want to take on a little more risk with your money, while still maintaining liquidity in the event you need it immediately.
So there you go…don’t hold on to cash, because if you do, you’re gonna have a bad time and you’re going to lose money with inflation, which is EASILY avoidable if you just put your money in a few of the options I mentioned here. And ALL of these options take you under 10 minutes to setup…it’s really simple, and a great way to PRESERVE your wealth and keep it liquid until you need it for other investments. Like avocado toast.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
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Us Bank Money Market Deposit Account, DON’T HOLD CASH: Use THIS Instead.
The 4 Things Required For An Effective Service Loan Application
It is not a compulsory term and the loan providers do not go for this. This loan option would be a practical loan choice for you to take. Just make sure you can make the repayments on time.
DON’T HOLD CASH: Use THIS Instead, Watch most searched videos about Us Bank Money Market Deposit Account.
How To Turn Your Hobby Into A Rewarding Business
Review discuss what it truly costs you to get one of these unsecured charge card. Make certain to consist of earnings from your service from past years. This will assist cut down on fraudulent purchases.
Your organization might be flooded with lots of debts which may have various rates and repayment terms. All such financial obligations end up being a problem on the regular survival of the business. All you require is an appropriate management of these debts and advances so that these can be settled easily and rapidly. However without the help of financial obligation consolidation organization loans one can’t make it possible. These are the loans, which integrate the all debts of service into a single financial obligation or loan which can be repaid in easier terms on lower rates.
It is usually a good idea to approach 2 or three banks with your business strategies. Let them understand that you have actually approached other banks also! Some banks even frequently offer totally free Business Banking for the very first year or perhaps 2.
The ideal scenario is to have two Credit Cards. One card you trigger but you never utilize it. You just wish to have it active on your credit report. Keep it in the house in a shoe box and attempt to forget you have it. The second card you buy gas, and gas just with. Possibly not even gas, use it for very small jobs like candy or lunch snacks or something.
You ought to ask how well the online banking account serves you as a customer. For how long does it take to answer and fix your inquiries? When comparing banks, customer service need to be a top concern.
To plan this out, it is much better to calculate the APR before you request protected Business Loans. Additionally, you can also request a complimentary quote for your loan quantity. This ensures that you understand about the repayment details for the protected service loans at the time you get it. Now, if you wonder how to obtain these protected Business Loans then it is a basic job.
YOU have bad credit. It is essential to remember that you must separate your business credit from your individual credit. Bad personal credit will more than likely disable you from protecting funding of any kind for your organization. Till you have actually substantiated the 2 individually you will strike challenges. Leasing business and some regional loan providers will normally look at a combination of individual and company scores.
Governments might even win by buying (thus speeding up startups of) Osusus. When lenders can not keep up with inflated banking expenses, customers share less in the losses of banks. And consumers end up with more money to spend, which will be applauded by producers.
Just make sure you can make the payments on time. The economy is integrated in a way where people have to invest the cash they make to keep it going. This is only one good feature of doing online banking.
It is very important to remember that you should distinguish your company credit from your individual credit. Well, there is absolutely nothing to be worried at all. By all ways, opt for 15 cards at the same time.
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