Money doesn’t grow on trees, but you can plant the seed

MoneyTreeDollarSign

We would all love money just to show up and take care of all of our money problems but we all know that’s unlikely to happen. Let go of that fantasy and begin growing your money for real. “Growing” your money is a way to have your money make money by receiving interest and dividends payments from financial institutions.

Most major banks pay interest to their customers with checking, savings, money market and CD’s (Certificate of Deposit) accounts. To earn more interest in a checking account, you have to keep an average balance to see benefits but keeping your money in a saving account is most beneficial. These accounts don’t have high interest rates but it’s something and the more you keep in your account the more money you will earn. In the world of investing, dividends is a sum of money paid regularly (usually every three months) towards stock you own. Interest and dividends rates always change based on the economy and markets so be mindful of that.

Growing anything will take some time to see its fruitful results. Start planting your seed by putting your money in accounts that pays interest or dividends and watch your money tree grow.

Advertisements

2 thoughts on “Money doesn’t grow on trees, but you can plant the seed

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s