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Savings: Where to earn the best interest on your money right now

If one of your New Year's resolutions is to grow your savings, one smart strategy is to keep your money in an account earning the most interest.
The Federal Reserve has been slow to raise interest rates, and even recent hikes haven't trickled down to consumers in the form of better savings yields. The average savings account offers a paltry 0.19% annual return, only slightly better than a year ago, according to Deposit Accounts.
Some experts say that money could grow faster at online banks. Some CDs, or certificates of deposit, are also more generous than others.
"If you're not seeking out the best returns on savings accounts and CDs, you're leaving money on the table," said Greg McBride, chief financial analyst at Bankrate.com. "It's the only place in the investment universe where you can get extra returns without extra risks."
These accounts are protected by the Federal Deposit Insurance Corporation, a government agency that provides deposit i…
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Make Your Investing Resolutions Reality in 2018

These six New Year's resolutions will give your investment portfolio a boost in 2018, deliver long-lasting rewards and require neither spandex nor excessive amounts of kale.
It’ll be nearly impossible to find an open treadmill at your local gym come January. By March? Everything’s back to normal again.
Welcome to the season of good intentions. Many people will start 2018 with a New Year’s resolution like exercising more or losing weight, only to abandon it within weeks.
Sound familiar? Even if you haven’t succeeded in the past, 2018 can be different. (No, really!) If you’re unsure where to begin and would like to start with some quick wins, how about your investment portfolio?
Investing resolutions can reap long-lasting rewards and require neither spandex nor excessive amounts of kale. Pick and choose from the following investing resolutions, or go ahead and tackle the entire list.
Save more (and invest it)
Spending less and saving more is a noble resolution, but here’s some bad ne…

9 money mistakes to avoid in your 40s

Your 20s were all about setting up your financial foundation and establishing good habits. Your 30s were about life changes like getting married, having kids, and building your career.
In your 40s, everything is amplified even more. You've got growing kids and aging parents — and what you don't have is a ton of spare time.
There's a lot you can do in your 40s to protect your money and care for your family before you begin thinking about retirement in your 50s or 60s. Here's what you should avoid:
1. Buying more house than you can afford
With your growing family, that starter home in a bad school district isn't meeting your family's needs anymore. Suddenly, you want more space for your kids to run around, and you want them to grow up in a neighborhood with lots of friends their age.
It's tempting to opt for more square footage, a larger yard, and an upscale neighborhood. But this means a bigger home loan, increased maintenance costs, and high property taxes.

The only way to save money has always been the same — and you can't do it without making a key distinction

While a bad economy or an especially low-paying job can make saving money infinitely harder, the formula for saving has always been the same. To save money, you need to spend less than you earn.
Obviously, this task becomes a lot easier when you earn more than average – or if you live in a low-cost area. If you have a six-figure income and live in Arkansas, for example, you should absolutely be socking some money away. On the flip side, someone living on the same salary in an expensive city like New York City, Boston, or San Francisco might not have much if anything left over after covering basic expenses like housing, food, and childcare.
But, no matter your income or where you live, you have to find a way to spend less than you earn if you hope to save money to retire, have some fun, and avoid debt. You can get a side hustle or a part-time job if you want, but if you don't spend less than you bring home, you're always going to struggle.
That's why it's important to …

10 Habits to Develop for Financial Stability and Success

Just like any goal, getting your finances stable and becoming financially successful requires the development of good financial habits.
I’ve been researching this topic extensively in the last few years in my quest to eliminate debt, increase my savings and increase financial security for my family.
I’ll talk more about these habits individually, but wanted to list them in a summary (I know, but I’m a compulsive list-maker).
Here they are, in no particular order:
1. Make savings automagical
This should be your top priority, especially if you don’t have a solid emergency fund yet. Make it the first bill you pay each payday, by having a set amount automatically transferred from your checking account to your savings (try an online savings account). Don’t even think about this transaction — just make sure it happens, each and every payday.
2. Control your impulse spending
The biggest problem for many of us. Impulse spending, on eating out and shopping and online purchases, is a big drain o…

How to save for retirement on a tight budget

To the average American, saving money is a mythical topic. In a recent CareerBuilder report, 78% percent of full-time workers said they live paycheck to paycheck, up from 75% in 2016.
Retirement savings can seem unnecessary when you're barely getting by. That said, you and your spouse will need about $1 million to live comfortably during your golden years, and waiting for a financial windfall isn't the best use of your time.
Take these steps to prioritize savings with the resources you have.
Trim your spending
It's not easy or fun, but cutting unnecessary spending is the most effective way to take control of your finances. The good news: According to a study by Hloom, 8 out of 10 Americans admit to wasting money, so there's a decent chance that you're not as broke as you feel. Start small by eliminating things that aren't overly painful, and work your way up to making significant cuts across the board. An efficient budget will help you form better savings habit…

There are 3 things to understand about investing if you want to make money in the stock market

Investing is anyone's game. And putting money in the stock market while you're young is one of the best — and easiest — ways you can set yourself up for a comfortable retirement.
But the reality is many people don't invest — especially younger Americans, who keep as much as 70% of their portfolio in cash, according to a recent BlackRock survey.
In a recent blog post, ESI Money, a blogger who retired at 52 with a $3 million net worth, said "waiting to invest" is one of the "worst money moves anyone can make."
After all, investing your savings in the stock market, rather than stashing it in a traditional savings account, could amount to a difference of up to $3.3 million over 4o years.
Luckily, investing isn't as complicated as it seems. According to ESI Money, there are three factors that determine how well your investments will perform:
1. Your timeline
ESI Money crunched the numbers and found that time is the most important factor in how well your i…