Behave and Save

by astanhaus

Do you stash your cash in your panty drawer? Of course, it’s necessary to have a stash of cash for emergencies (actual, not fashion). But if there is ever more cash than underwear in my drawer, I could be doing my $$ a disservice.

(click on the bold-faced vocab words:))

If I were to deposit that cash into a savings account, it could grow! Grow with respect to the interest rate, that is. The interest rate determines the % of my  account balance the bank pays ME! The bank likes storing my $$, and interest payments are their thank you note. Here’s a reminder courtesy of Don Draper.

There is a bevy of other options to grow my money even more. A savings account is by far the most straightforward. The others have an intimidation factor. But, keep reading and I will conquer intimidation!!

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(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)

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