2007-10-08 15:20:17 · 4 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I have the bank for you bro, and it costs only a dollar to open up! It has been mentioned in Money Magazine, and I have seen their commercials on TV, and maybe you have too! The commercial shows the pig getting fatter and fatter. They are paying around 4.5% interest and I have seen it climb over 5% a time or two. I got a nice little nest egg in there and they provided me with an ATM card for free! Here is the link so check them out! https://www.us.hsbc.com/1/2/3/personal
Oh yeah bro, if you find this helpful please give me some points!
2007-10-08 15:46:37 · answer #1 · answered by logicboy 3 · 0⤊ 0⤋
You will need at least $50.00 to open a savings bank account. But you won't get much out of it, maybe 0.5% interest until you have at least $1000.00 saved. At that time you should look either into a money market account, or buying a Certificate of Deposit (CD). You should talk with your bank representative about that.
The best way to save your money is first, determine how much you will "need" each week. This is called making a spending plan, or a budget. Then put whatever is left over into your savings, until you can build it up. Be very careful that you do not confuse what you "Want" with what you "need".
2007-10-08 22:33:03 · answer #2 · answered by rb_cubed 6 · 0⤊ 0⤋
The best way to save and accumulate money is in a vehicle that makes you work a little to get it out. If it is too easy it will not compound enough interest. One possible way would be to invest in a mutual fund or a combination of 2 or 3 funds. Contact a Primerica Agent, advise is free. They also teach you how compound interest works for you to watch your money grow.
2007-10-08 22:47:26 · answer #3 · answered by Houdini 7 · 0⤊ 0⤋
money market acct is best
2007-10-08 22:24:16 · answer #4 · answered by Michael M 7 · 0⤊ 0⤋