If you have money sitting in your savings account, why not make the most of those funds? There are countless ways to grow your savings faster than a traditional account. Here are four places you can put that money that will give you better growth and your savings account.
Treasury Bills are quickly becoming a very popular way to add to your nest egg. These can be purchased directly from TreasuryDirect.gov. They are considered an extremely safe form of investment, and currently the 1 year interest rate is 5.33%. You can choose from a large assortment of terms, and the interest rate changes often, so if you don't see rates you like now, check back another time.
Money Market Accounts are a solid, risk-free way to grow your savings a bit faster than a traditional savings account. With higher interest rates and a withdrawal limit, you are sure to see the benefit over time.
Online Savings accounts are a growing trend. They are just savings accounts where there is no brick and mortar branch, and current rates vary from 4.6%-4.95%.
Certificate of Deposit accounts have always been a homerun when it comes to safe, predictable saving. We discussed them here in a previous post, so check it out to familiarize yourself with how CD's work.
Stop in to any of our three #SuperiorCreditUnion branches to talk more about great ways to invest your hard earned money!
