3 Ways to Get More for Your Money
Here today, gone tomorrow. That’s how money seems to go for a lot of people. You work all year long to earn your money, and sometimes it’s already spent before your paycheck is even deposited. There has to be a way to get more for your money and to keep it from disappearing before you even see it. If no matter how much money you earn, it still doesn’t seem to be enough, this post is for you.
We’ve compiled a list of our top 3 ways to earn more for your money – without having to do a ton of work. Take a second to read, and then start saving all the extra cash you bring in.
Whether it’s stock, real estate, bonds, or mutual funds, investing is a financial decision that comes with a risk but also brings you great earning potential. Like with anywhere you put your money, investing is a calculated risk. If you do your research beforehand, you should have a grasp on whether or not the potential payoff is worth it. Some of these investments may require a little more maintenance work than others, but they all have the potential to earn you some extra cash on the side.
Paying off Debt
If you’re like most Americans, a good portion of your paycheck might go toward debt. Think of all the money you would have leftover each month if you weren’t having to pay off so much debt. Your money wouldn’t be gone as soon as you got it, and you’d be able to save up for what you really want. Paying off your debt may seem like an insurmountable task, but it’s not as scary as you think. Start with smaller goals, like paying off credit card debt or lower payments first. Then apply the money you save toward paying off bigger debts. If you follow a plan and stick to it, you’ll be debt-free sooner than you think. And you’ll have the money to show for it.
When you deposit your money into interest-bearing accounts, you’ll be able to sit back and watch your money work for you. Different accounts sometimes have qualifications to earn the maximum rate each month, such as a minimum deposit amount or number of purchases. Most of the time you’d be using a checking account and making purchases anyway, so this is often risk-free. You’ll earn a certain percentage of interest each month, and if you save that money, it will start adding up. All you have to do is enjoy the benefits.
Ready to make a change in your budget and start getting more for your money? We can help. We’re proud to offer two new accounts that can help pad your wallet. Our Bonus Rate Checking¹ and Bonus Rate Savings² accounts offer up to 2.01% APY* simply by following three easy requirements. Also, our 24-month CD³ offers 1.11% APY*.
SouthEast Bank Member FDIC.
*APY=Annual Percentage Yield.
¹To earn the bonus rate, each month the account must be enrolled in eStatements, post and clear at least 15 debit card transactions, and receive at least one direct deposit or ACH debit. If all qualifications are met during the statement cycle, a bonus rate of 2.01% APY on balances of up to $20,000 and .20% APY on balances over $20,000 will be credited. If bonus qualifications are not met during the statement cycle, a rate of .05% APY of the balance will be credited. Interest earnings are based on daily collected balances and are credited monthly to the account. Qualifying transactions include point of sale or online purchases using the SouthEast Bank debit card. ATM and cash-only transactions do not qualify towards minimum debit card transaction amount. Rates subject to change. APYs are accurate as of 03/23/2020. Fees may reduce earnings. Some Fees and restrictions apply.
²To earn the bonus rate, the account holder must have a SouthEast Bank checking account, the Bonus Rate Savings account must be enrolled in eStatements and 20 Round Up Savings transactions† must occur monthly. If all qualifications are met during the statement cycle, a bonus rate of 2.01% APY will be applied on balances up to $10,000 and .20% APY on balances over $10,000 will be credited. If bonus qualifications are not met during the statement cycle, a rate of .05% APY of the balance will be credited. Interest earnings are based on daily collected balances and are credited monthly to the account. Unlimited withdrawals at teller window or ATM and 6 pre-authorized withdrawals per month at no charge. Pre-authorized withdrawals over 6 will be charged a $10.00 excessive withdrawal fee. APYs are accurate as of 03/23/2020. Fees may reduce earnings. Some Fees and restrictions apply.
†Upon enrollment in Round Up Savings, SouthEast Bank will round up your qualifying transactions to the nearest dollar and transfer the difference from your checking account to your designated account. Qualifying transactions include point of sale or online purchases using the SouthEast Bank debit card. Both signature and pin transactions made with debit cards qualify for Round Up Savings. ATM and cash-only transactions do not qualify for Round Up Savings. All debit cards connected to the checking account will round up to your savings account. You must be an account owner on each checking and savings account you enroll. Round Up amounts will accumulate for one deposit to your savings per day.
³The interest rate for the 24-month CD account is 1.11%, with a corresponding APY of 1.11%. The APY assumes interest remains on deposit until maturity. Any withdrawal of principal or interest during the term of the account will reduce earnings. Interest for the account will be compounded quarterly and credited to the account on the last day of each quarter. Interest begins to accrue on the business day of deposit of any noncash item (for example, checks). Accrued interest will not be paid if the account is closed prior to the interest payment date. Penalty for early withdrawal. Limited time offer. Rates effective 05/01/2020. Minimum opening deposit $1,000.