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December 04, 2018

Greetings Thrifty Friends,

Winter2018Do you have a little bit of cash lying around, but not enough to be gambling in the market? If you have a savings account with ten or fifteen thousand in it, like many people do, you are probably earning less than one percent right now, but you don't want to tie that money up in long term investments.

There are other things to do with that cash that are much more profitable that letting it sit in a savings account and will turn around much faster. Please scroll down for some ideas.

Keep pinchin' those pennies,

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Treasury bills, or T-bills, are sold in terms ranging from a few days to 52 weeks. Bills are typically sold at a discount from the par amount (also called face value). For instance, you might pay $990 for a $1,000 bill. When the bill matures, you would be paid $1,000. The difference between the purchase price and face value is interest.
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Your own bank probably offers Certificates of Deposit, or CDs. Most banks will let you open a CD for as little as $500 or $1,000 that will mature in a year or two. CDs are earning between one and two percent, which can be several times as much as your savings account!