Simple vs. Compound Interest: What’s the Difference?

Mature couple smiles as they discuss their savings

Do you have a loan or mortgage to pay off? If you’re between the ages of 35 to 54, odds are you do. What Is Simple Interest? Simple interest is a fixed amount based on the principal, or original amount, of a loan or deposit. The interest amount remains the same throughout the entire repayment… Read more »

3 Big Ways You Can Save More Money This Year

Two children put coins in a piggy bank to learn about saving more money

We’ve all been there – the feeling of invincibility when your direct deposit hits your bank account, and the sinking feeling a few days later when you realize you’ve spent most of it. According to a study from Career Builder, nearly 78 percent of full-time workers live paycheck to paycheck each month. Are you one… Read more »

When Should You Set Up Your Child’s Savings Account?

Mom and daughter save money together

It’s never too early to start saving money, which is why a growing number of parents are opening savings accounts for their children early on. Doing so can help establish a brighter financial future for your child. Dave Sieminski of the Consumer Financial Protection Bureau notes a study that found children from low-income families were… Read more »

Is Your Financial Information Secure Online?

Man protects his online identity while using phone and laptop

Online banking and investing are modern-day services that provide convenience for those on the go. You can easily pay bills and move money around using your home computer, smartphone or another compatible device. This convenience can turn into a major hassle, however, if you don’t properly safeguard your online profiles. Why You Need to Create… Read more »

What is a Fiduciary?

Obtaining a fiduciary to make essential arrangements for your assets

When you are making arrangements to ensure financial security for yourself and for your family, you might happen across the idea of naming a fiduciary. A fiduciary can ensure that your money and assets are handled appropriately if you get sick, become injured or die. Knowing what a fiduciary does, the standards by which they… Read more »

What Is a Money Market Account? Money market accounts can provide a safe, productive way to store your money

What is a money market account

A money market account, or MMA, is an account that typically comes with a higher interest rate than other savings accounts. If investing in stocks and bonds is not something that appeals to you, but you would still like to make your money grow safely, opening a money market account could be the right move…. Read more »