The financial stresses of the past few years can lead to a learning moment that we can use to make ourselves more financially literate and more prepared for the future. Guaranteed Interest Options As interest rates have increased and banks have had some challenges, it may be time to look at guaranteed interest options available at the bank level, money market accounts or treasuries. Instead of leaving cash in the bank where it might make…

With the recent turmoil in the banking sector, it’s understandable to worry about your bank savings. But before worrying, it’s important to know how your money in the bank is protected. So, how safe is your money, really? Where is my money? First, let’s talk about how your bank actually stores your money. When you deposit your money into the bank, they don’t actually keep it on hand. They will usually take your money and…

In theory, the definitions of an investment or an expense are quite clear-cut. An expense, or cost, is simply the dispensing of time, money, or resources. An investment, while an expenditure, comes with the expectation of a return.[1][2] While the two ultimately have the same goal—to acquire a good or service—their intentions and outcomes differ. So, let’s discuss the main differences between an expense and an investment and why sometimes the reasoning to back up…