You received your tax refund or work bonus… now what? With that large sum of cash, many Americans pay-off debt and make major purchases, but there’s another good option for your cash—investments! We’re not talking about risky stock market investments, but a low-risk option like a Certificate of Deposit.
As you decide on your New Year’s resolutions, think SMART—financial goals that are specific, measurable, attainable, realistic, and time-oriented. Here are some examples of financial goals for different generations:
Collect your change. Each time you buy something, save money that you get back. Deposit the change in a container at the end of every day. Over time it could add up to a significant amount of money.
Save your allowance. Whether you want to buy something you’ve been eyeing for months or you want to start saving for college, the only way you are going to do it is by putting your allowance away.