Personal Finance
4 Ways To Grow Your Savings Fast
By ValueChampion  •  December 15, 2020
While it's great to have a savings account, it's not news that typical savings account interest rates are quite low, making it tough to make a considerable return by just having your money lie there. Whether you have a lot of savings or not too much, there are several ways you can "put your money to work" to plan for your future. We listed four great ways to grow your savings faster in a little-to-no-risk environment. Open a Regular Savings Plan Account Regular Savings Plans (RSPs) are great for those looking for high returns over a short period of time. This is because the money that you put in monthly is invested into the stock market, so both your account and the interest earned on it grow in tandem. Furthermore, unlike dabbling in the stock market yourself, RSPs (also known as monthly investment plans) use dollar-cost averaging with your monthly contributions...
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By ValueChampion
We distill sprawling marketplaces—for insurance, credit cards, bank accounts, and more—down to choices that represent a sweet spot for value—as in offering the features, returns, or experience we think you need for the smallest outlay. We ask: Is the return on a particular purchase or decision worth the cost or risk of that option, and how does the choice stack up against other options?
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