Is My Money Safe in the Bank?
The recent economic downturns have many of us asking ourselves questions: how do we know our money is safe in the bank? In past times of economic troubles, such as the Great Depression, it wasn’t uncommon for banks to experience what’s known as a “bank run”: when a large number of customers withdraw their cash…
What is the Difference between a CD and a Money Market Account?
What is a Certificate of Deposit (CD)? A certificate of deposit (CD) is a low-risk, timed deposit account, meaning that you deposit money into it and you cannot touch it until a certain date. CDs have a minimum investment requirement – which varies by institution – and pay a fixed or variable rate of interest…
Money Market Account vs. Savings Account
Have you ever been told, “Make sure you have something for a rainy day.”? At some point or another, it is a great idea to open a savings account because you truly do need extra money for any unforeseen expenses that might occur. This need makes savings accounts extremely important to our everyday finances. However,…
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How Much Should You Have in Emergency Savings?
Life is unpredictable and it’s likely that at some point in your life you will need to dip into an emergency savings account. Saving for a rainy day is a good practice for any responsible adult. This money can be used for unexpected expenses such as new appliances, repairs to your car, or even as…
Survey Reveals Which States, Gender, and Ages are Spending the Most on Their Homes
Across the country, COVID-19 concerns have Americans staying in. Homes and apartments are getting their fair share of use, and many homeowners are turning to DIY projects and impulse furniture buys to transform their 24/7 space. If you are considering shaking things up at home, you aren’t alone. But, do your home spending habits line…
How Do I Know if I Need a Checking Account?
If you’re new to personal finance and starting to make an income or if you’re looking for a way to manage your money better while keeping it safe, chances are you’ll turn to a checking account. Many Americans find checking accounts essential in the digital era for everyday transactions, withdrawals, payroll, proof of financials, and…
Personal Finance for Main St
When residents of Main St look for news on how the economy is performed that day, it's often reported in terms of how the "Dow" or the S&P 500 performed that day. So what is the Dow? Ditto for the S&P 500?
