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Shopping for the Best Rates Online


Managing your money is a priority when you want a nest egg for the future. You know you need to grow the money you save and invest now if you want to have any kind of financial security later.

However, growing your money can be a challenge when you do not know what the interest and yield rates are at your local and online financial institutions. You can shop for the best rates available for checking, retirement, and savings accounts by visiting the website today.

Minimum Balance to Open

Before you can make your money work for you, you first have to open some sort of account at a bank. Even a checking account has the ability to grow money once the interest in compounded on your balance. Having your money in a bank is more lucrative than keeping it in a security box at home.

However, many financial institutions require you to deposit a certain amount of money first before you can start using the available services. This minimum balance can range from $25 and higher depending on the bank. In rare instances, banks may not require any initial deposit to open the account

You can find out for sure how much money you need to pay in order to get the bank account open. Once you know this amount, you can either save it from your paycheck or transfer it from another account you have open. Once the account is open, you can then sign up for direct deposit if you prefer.

Yield Rates

Another piece of information you might want to learn about involves the yield rates on the accounts available to you. You want to know how much interest your money can earn and how often that interest will be compounded on the principle.

Some banks require retirement investors to keep their money in their accounts for 18 months to two years before the interest will be compounded on the initial deposit. Once that time limit has passed, the interest will be paid to the investor in his or her account. The investor then has the option of reinvesting or withdrawing the money without penalty.

You also may want to learn about penalties in case you do have to withdraw the money. You might have a financial emergency like a medical bill or car repair you need to pay for at some point. The only option you might have is to withdraw the money from your investments.

Some banks penalize investors at a rate of 40 percent for withdrawing money from their accounts before the yield term expires. Others do not impose any penalties depending on how much you have invested. You can learn this information for sure by visiting the website.

By knowing the interest and yield rates for available accounts, you can determine where to invest your money. Once your money is invested, it can start growing for you. You can use it as a financial safety net.

We Made It – Brand New Month


It is officially the last day of No Spend January. We made it!!! And yes, I’m proud.

Other than the flat tire and replacement, we didn’t falter. In fact, I didn’t even spend my “exception” money…yet. I still have to register Princess for volleyball and get an oil change. But…

Exciting Things in February

We do have a few exciting things to look forward to this month:

  • It’s Valentine’s Day! And my first Valentine’s Day in years and years where I am officially part of a couple.  That’s new. I’ve been drawing and coloring for days to prepare a homemade gift that I will be mailing in pieces over the month. (How do you feel about the increase in stamps this month? I wouldn’t have noticed other than the long distance relationship I am in.)
  • Gymnast is supposed to come for his first visit. (Still working out the details on this, but hopeful it will happened.)

    He’s adjusting to the snow, but starting to miss home a bit.

  • Princess is out of school for a week. (We don’t have any plans, but it will be a nice break.)
  • Princess will start playing for a local rec volleyball league at the end of the month.

Debt Payments

But most importantly, I will be reviewing my financial accounts which I have mostly ignored this past month to make some decisions on debt payoff. Yeah!

Just a reminder, my debt priorities right now are:

  1. Tax Debt
  2. Collections
  3. Credit Card
  4. Car Loan
  5. Student Loan

My student loan is still in deferment and will be until May. So I have a little breathing room to pay off the other debts.

I am anxious to receive all my tax documentation and anticipate getting a refund. I am hoping that between my savings this month and the tax refund, I can get the bulk of debt #1, 2 and 3 paid off. That will feel amazing!

This is the year that things turn for us in a big way. I am ready for that change. I am motivated to make that change.

What about you? Has your excitement over the new year waned? Have your resolutions or goals petered out?