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Where should I put money I'm saving?
I'm in college and this summer is the first time I have a job where I am making enough money to really start saving for the future. I have a regular checking account, but is there another place I can put my money where it can grow and earn interest faster? Any advice?
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I earn my money in a CD, it's where you sign a contract with the bank, can't get your money taken out for either 6 or 12 months at a time, and you get a lot more interest off of it. I make around 40 dollars a year off of my CD with only 1800 dollars in it.
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Hi. I am a CPA and I think I can help you. I would put my money in a savings account. Based on the amount you have saved, or requirement of the bank you could check into a mutual fund money market. Go into a local bank and speak with one of the account representatives or financial planners. Hope this helps and good luck
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Go to your branch where you signed up for the chequing account. Tell them what you would like to do with your savings and ask about options to make it grow quicker. They'll have a host of them to choose from. Each bank is different. The banker will sit down with you and map out what they think you should do.
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