Below you'll find a list of all posts that have been tagged as “concept of the month”
Credit is important in today’s world. We use credit cards to pay for purchases, and we must have credit to be able to take out a loan from a bank or financial services institution. This month, Young Americans Bank helps you learn all about credit! What is Credit? Credit is the borrowing of funds with the intent of paying them …
The Early Investor Catches the Worm You may have heard the saying that “time equals money” or “money equals time.” Â But, do you know what that means? Â In the world of investing, the earlier you start investing, the more money you’re likely to have at the end. Â In short, the longer you invest, the more money you’re likely to earn. …
Learning how to save is important! Â As a kiddo you might not have many expenses, but if you can develop good savings habits now, you’ll be so thankful when it comes time to buy your first car or your first house. Â This month, Young Americans Bank brings you our tips for setting savings goals that you can actually reach! Setting …
Is your piggy bank almost full? Â It might be time to deposit your savings to a bank! Â Â There are lots of reasons why it is better to save your money at a bank instead of at home. Â This month, Young Americans Bank brings you the most important! Safety Most banks have deposit insurance through the Federal Deposit Insurance Corporation (FDIC), …
Are you looking for a way to give back this holiday season? Â This month, Young Americans Bank has some ideas for how YOU can be a philanthropist! Â That’s a big word that means sharing your time, talent, or treasure to make your community a better place. Â It’s not as hard as you might think! Time It takes just a moment …
Money management skills can be developed at an early age, and Young Americans Bank is here to help! As a young adult, you can master money management by closely following these financial rules: MoneyMoney spent must never exceed the income available. Save a part of all the money you receive. Put your money to work earning interest. Avoid borrowing because …
How much do you know about the stock market? This month, Young Americans Bank wants to help you “take a walk on Wall Street” by explaining the basics of investing and the stock market. Â Let the tour begin! What is a stock? Stocks are shares of ownership of companies. These shares are sold to the public in markets around the …
Saving your money with compound interest is just like planting seeds and watching them grow! Interest is free money the bank gives you for having your money in the bank. Compound interest is free money the bank gives you in addition to the money they already added quarterly (every 3 months). Regular Interest: Simple interest is based on the principal amount …
Bonds, CDs, futures, oh my! Â There are so many investing terms out there, it’s hard to know what’s-what. Â This month, we break down nine common tools to help you understand what investing is all about! Bonds A bond is an IOU. By buying bonds, the bondholder lends money to a company or a government. In return, the borrower promises to …
When you grow up, do you hope to be a millionaire? Â Then start now! Â SAVE your money, get a summer job, invent something the world can’t live without, or start your own business. Below are some summer job ideas to help you get started! Cleaning Services Washing windows, washing and waxing cars and boats, cleaning pools, cleaning aquariums, cleaning garages, …
