Are Certificate of Deposits (CDs) a Great Savings Product?

Have you heard of a CD before? No, not a compact disc (CD), a certificate of deposit (CD). So what is a Certificate of Deposit by the way? A Certificate of Deposit is a type of savings account, in which you “lock up” a certain amount of money for a defined time frame (3-months, 6-months,…

How my bank interest increased from $66 to $1200 in a year

For years I earned the lackluster interest rate that most traditional banks pay, a mere 0.10%. Thinking of it, the interest received did not even keep pace with the cost of inflation. It always fascinated me and sometimes angered me, to learn that banks lend customer’s money to borrowers for 6% – 8% interest rate,…