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Savings AccountsEven if you've not fully paid off your consumer debt, it's still a good idea to set aside some of your monthly surplus for building a savings reserve. Make it a priority to set aside three to six months living expenses for emergencies. We suggest $10,000 as a starting point, but it's your call. After that, you may want to begin accumulating funds for a major purchase you are planning (such as a car).
When you see a title of interest, click on it to view the complete article. (Note that links with the key symbol [  ] are locked to visitors and available to Web Members only.) How would you like to earn 14% on your savings this year? That's right, the same savings currently earning less than 1% in your money market account. We explain how to take advantage of this opportunity for big returns year after year.
Looking for a positive financial resolution for 2012? How about boosting your savings! We have three great suggestions to help you.
Chafing over the low yields available today on traditional savings products? If you have at least a three-year time horizon, you might want to consider Lending Club.
Investors often believe the returns from their bond funds are lower than they actually are. The cause of this confusion is usually their reinvested monthly dividends. We walk through an example illustrating how this typically occurs.
For many years, money market funds were a staple of SMI's saving recommendations. But since the financial crisis of 2008, the appeal of money market funds has diminished. Read on for our latest take on the best home for your savings dollars.
It's a lesson we often only recognize in hindsight: once the emergency strikes, it's too late to prepare. This first-hand account illustrates why an emergency fund is one of the cornerstones of a healthy financial foundation.
Choosing a savings vehicle based on interest-rate expectations is a fool's errand, because no one can know when rates will change or by how much. SMI suggests a better approach.
A common approach to getting more interest on your savings is to build a "savings ladder" using CDs from banks and credit unions. When rates are low, however, that strategy needs a little fine tuning.
Despite your best intentions, it's easy to rationalize putting off starting to save. One solution is to set money aside automatically before you have the opportunity to spend it.
When interest rates start to rise, savers who have money tied up in CDs or bond funds often get locked into below-market rates. If you play things right, however, the sting of below-market returns should pass quickly.
As money-fund rates continue to scrape bottom, new enhanced-cash funds may represent a reasonable tradeoff: slightly more yield for slightly more risk.
Washington's December tax deal will create a year-long 2% tax cut for most workers. But if you want even more in your paycheck, you just have to ask. Really.
It's not only wise to have an annual physical checkup, it's a good idea to have an annual financial checkup too. Thankfully, you can do the financial one yourself.
Here's a simple strategy for climbing out of debt and getting onto a path that leads to long-term financial health.
As new laws and regulations crimp bank revenues, it looks like one casualty is going to be the widespread availability of free checking. But here's the good news: even as some larger banks stop offering free accounts, smaller banks may begin to focus on free checking as a way to gain a competitive edge.
The Bible tells us that while our actions are important, our motives are just as important. What are your motives for setting aside money for the future?
Two savings vehicles can have the same yield, yet end up with total returns that are quite different. Here's why.
Many employers are turning to Health Savings Accounts, combined with High-Deductible Health Plans, to hold down company insurance costs. This change can bode well for many employees too, allowing them to save on taxes while building a health care nest egg.
"Ginnie Mae" funds tend to offer returns about 1% per year higher than funds invested in high-quality short-term bonds. But be warned: this road to better yields can be a bumpy one.
Short-term bond funds pay higher yields than money-market funds and accounts — but they can suffer temporary losses when interest rates fluctuate. Still, it's rare for a short-term bond fund to lose money over a two-year period. That's what makes these funds good vehicles for longer-term savings.
If you invest in a longer-term CD and then interest rates rise, you'll be locked into a below-market rate. Ugh. Some banks have a solution: CDs that allow you to get a one-time rate increase.
Creating a series of dedicated savings accounts ("college fund," "new furniture fund," etc.) can help you achieve your savings goals. And in these days of easy-to-use online savings, managing multiple accounts is as simple as point and click.
With money-fund yields scraping bottom, millions of savers have moved up the risk ladder to bond funds. Should you?
Of the more than 9,000 state and federally chartered credit unions in the U.S., many are overtly Christian in their emphasis and use member deposits to fund Kingdom business.
The new regulations, prompted by a rare fund meltdown in 2008, are intended to make money-market funds safer.
In the midst of the money fund industry's worst year ever, the money-market funds we suggested for Level 2 savings performed better than the average MMF — for the 12th year in a row.
The "apparent" return on your savings doesn't necessarily tell you much. Rather, the key is how well your savings investments actually protect your net purchasing power. To determine that, you have to take into account the impact of taxes and inflation.
Trying to reach an emergency-savings goal of $10,000 can be a tough task. Sometimes it seems like you'll never get there. So you may wonder, "Is all this caution about having a sizeable emergency fund really necessary?"
Today, the highest bank rates are found in "high-yield" checking accounts. But to get the high rate, you have to be willing to jump through a few hoops.
Series EE bonds have a guaranteed payout — if you hold them long enough. But EE bonds have some serious downsides as well.
For years, savvy savers have used online listings to shop the nation's top CD rates. Now, innovative online CD auctions are further empowering savers who are seeking the best return on their savings.
A recent survey asked, "If you were to lose your job, for how long could you afford to be out of work and still meet your financial obligations, including monthly expenses?" Good question. What's your answer?
Government regulators are discussing a controversial idea: allowing the per-share value of money market funds to float, rather than being pegged to a constant dollar share price. Before they act, they want to know what investors think.
The current pullback in available credit makes a painfully clear point: there is no reliable substitute for personal savings.
Savings rates are scraping along at historic lows. But you can still find some decent returns — if you shop around.
Think you don't need an emergency-reserve fund? Think again.
Generations of readers have discovered the secrets of building wealth from the wise teacher Arkad, Babylon's richest man — as imagined by George S. Clason in his classic 1926 book.
For years, money market funds have been considered a "safe haven" for savers. But in this time of turmoil, just how safe are they?
It's not often that we have to completely re-evaluate basic strategies we've offered to readers. But recent events in the ultra short-term bond world are causing us to do exactly that.
In an unusual twist of events, current yields on money market accounts look very attractive compared with the money market funds SMI typically recommends. So should you switch? Here are three reasons to look closely before you leap.
Not too happy with your bank's rates or its customer service? A nonprofit credit union might be a good alternative for stashing some of your Level 2 savings.
Many savers deposit their money at a local bank simply because that's what they've always done. But the banking landscape has changed dramatically over the past decade, and the best savings deals are rarely found at the neighborhood bank anymore. Here's a brief walkthrough of the various savings tools available and the best places to find them.
Want to earn a decent interest rate while helping someone out with a small loan? That's the attractive proposition offered by new peer-to-peer lending services. While the concept is intriguing, it is also quite a large step up in risk from traditional savings vehicles. Here's an introduction.
How would you like to earn a 15% return on your savings this year? That's right, the same savings currently earning less than 4% in your money market account. We explain how this opportunity for big returns exists year after year.
The banking industry has been on edge since the mid-summer collapse of three banks overwhelmed by problem loans. If bankers are nervous, should you be, too?
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