We're always trying to make our dollars go as far as they can for us. Stretching them, investing them, putting to work and watching them double, it is our due diligence to tend to our dollars and see that they stay busy and stay growing. Which often brings up the question of what exactly is the best place to send our dollars off to work? What will achieve the proverbial most bang for our buck? This article aims to size up Money Market Accounts vs Savings Accounts, highlighting the pros and cons of each and detailing some of their histories as financial instruments.
Money Market Pros
One of the most appealing aspects of a money market account is the fact that it makes the ultimate stash house for your cash. With higher interest rate payouts than a traditional savings account, many prefer Money Market Accounts to park their cash. The added advantage being that this parked cash is also extremely liquid. High yields and high liquidity make this an attractive prospect.
Money Market Cons
There are instances however when you're money can be on the wrong tail of the rat race. If inflation rises faster than your interest rates, then you're loosing purchasing power, and quickly. Also while Money Market Accounts are generally touted as fairly safe vehicles, they aren't FDIC insured, so yeah, there's that to keep in mind. also make sure you stay weary and read the fine print. Some Money Market Accounts come bearing so many fees and charges that can
Savings Account Pros
Traditional savings accounts offer security, mental piece of mind, and unlike under your mattress, the money acrues some value over time. You also have more direct access to your money, and having it be FDIC insured helps you sleep at night, knowing your dollars are safe and sound.
Savings Accounts Cons
Unlike many other financial vehicles, savings accounts offer a very nominal interest rate, so watching your money grow in a savings account can be akin to watching paint dry. In addition, while you do have access to your money, there are federal limits to how much and how often you can access monies in your savings account.
In summation, there is no right nor wrong, neither better nor worse. And you don't have to be dead split to between the two. You can open both a Money Market Account and a Savings Account and start enjoying the advantages of both. Happy Investing!
Airbnb is a great option while traveling, but you should protect yourself from damage charges from unscrupulous hosts.
Airbnb offers an affordable option for people looking to be more comfortable as they travel.
However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.
And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.
If you're keeping tabs on the art and tech worlds, you've probably been hearing whispers about "NFTs" for the past month. Just over the past week they've entered the mainstream lexicon.
Twitter founder Jack Dorsey made the news for selling his first ever tweet. The app has been teasing paid subscription models and newsletter-like features, but tweets for sale is "the next frontier."
just setting up my twttr— jack (@jack)1142974214.0
The 2006 tweet went up for auction as an NFT, and the current bid is $2.5 Million. But what does it mean to own that? Why would anyone want to? And what even is an NFT?
Long gone are the days when the majority of Americans dreamed about owning a home with a white picket fence.
The traditional American Dream may be on its deathbed, but that doesn't mean a core component of the vision can't survive. It simply takes a diverse perspective. People can still believe they can attain their own vision of success in society with hard work, knowledge, and risk-taking. Investing in today's American Dream may literally mean investing money in our modern economy, starting with our infrastructure.
Real estate investing in particular is a lucrative method that can boost income and secure a better financial future for many. There's always risk involved, but the payoffs can far outweigh the uncertainty. Selecting solid financial investments is about confidence and competence. If you're looking for some advice on this kind of investment, here are a few savvy tips for new real estate investors.
Stick To a Specific Strategy or Niche
Real estate is a challenging sphere of the business world, one that requires several key skills: groundwork knowledge, networking, perseverance, and organization. True knowledge of the real estate market will come with time and experience, but it's a smart idea to select one area of the market and stick to it. This is the best way to attain in-depth familiarity with your specific niche.
First, choose a geographical area close by and then a niche strategy within it, such as house flips, rental rehabs, or residential or commercial properties. By doing so, you can become aware of current inner working conditions in the market and you'll have a better idea of how these trends may change in the future.
Be Vigilant About Viable Financing Options
While it takes money to make money, you don't have to use all your own money. A common misconception about real estate investing is that you must be wealthy to start off. This isn't straight fact, however. A majority of people can test the waters of real estate investing without a lot of initial cash in their pocket.
Aside from traditional financing options from banks and institutions, private lending options can be worthy solutions. Hard money lenders are popular, reasonable choices, and they tend to have fewer qualification requirements upfront. However, be sure to strategically choose a hard money lender to find the best possible fit.
Master the Art of Finding Good Deals
There may be hundreds of thousands of available properties for sale on the current market, but the bulk of them will never amount to the final money-making result you desire. Another great tip for new real estate investors is to use good math to estimate profit. Taking risks is part of the process, but you have the ability to analyze properties and use networking sources to find the greatest deal. You can't win every deal, but you can steadily work towards a thriving financial future.
