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This is exactly how to get paid to save. Now heads up! All these banks are free, and can hold their own when it comes to FDIC insurance. So rest assured, they are legit and very safe. Now just to clarify there are two types of interest, one being your enemy and the other being your friend. One feeds you, the other robs you. One pays you, the other you pay for. In short: APY is your buddy that buys you a soda every month, while APR is your debt collector. If you haven't understood by now I'll make it even simpler. Basically, APY gives you a monthly earning for saving your money with them, because although that money remains in the bank, the bank technically borrows your money, and PAYS YOU interest to use it. APR DOES NOT PAY you, but instead, will charge you money for using their money such as loans, or credit cards. Although all of these banks and systems are cost-free, you do need money to start, obviously it is for saving so no you are not spending money. Make sure you have AT LEAST $30 ($10 per account) to start all three accounts, the fourth you don't need money to start.
"So I get how I'll get paid, but where to go to get this free money?"
First, off open an account with this bank since it gives 2.57 percent APY in your pocket. This also has an online calculator to determine your financial future. You can link your assets, debts, and more to put it into consideration. That's awesome, considering inflation rates are usually one percent to two percent, you're not stalling using the national average interest rates of 0.10 percent, that's if you're lucky to even have any rates at all. As you may know, inflation is the enemy, and you must stay above it to not have any losses. Think of it as a form of anchor, and your money should be able to float at the very least. But if you have more APY than inflation, then that means your money isn't even on the water as we all prefer.
The second thing we did was open another account, so our money can scatter a bit. We chose this free bank because it has a promo to get paid $25 to start a free online savings account with a 2.25 percent APY in your pocket ($10 min to activate savings). This online bank gives you a debit card free, you can also invest and even pull out all sorts of loans if needed! Don't forget you also get paid $25 for every friend you refer too. It's a great bank, and a great way to make a few bucks. The more you share the more you'll make.
The third thing we did was starting this online bank since it gives you even more! This one has an AI system (artificial intelligence) to keep you on track with your expenses. It keeps track of your bills, food, debt, and so much more, then puts it in a pie chart and shows you the percentage of your monthly money spent ($10 to min to activate savings). This is a great budgeting tool that can get you up to one percent cash back every time you swipe your free debit card. It also gets you 2.15 percent APY. Start an online savings account today, and receive two percent cashback, and 4.30 percent APY for the month along with referrals.
Lastly, this one is NOT a bank, but you will need my secret weapon, my money cannon, the father of APY. This is very important since you can customize your APY exactly how you want to. The great thing about this company is that you're guaranteed the investment amount back, WITH interest. "Does this hold it own in FDIC Insurance?" Yeah! Up to 130 million. How's that for insurance? So remember at the beginning of this article when we touched on how a bank makes money off of your misery borrowing money from loans or credit cards? Well with this, you can become the bank, and if your borrower fails to pay you? No worries, this company handles everything, from matching you to people that need your loans to getting them to pay you. If your borrower does not pay you, the company uses their collateral as payment to you, so you'll always be safely guaranteed your money in return, and also your interest for that as well. Not to forget just to save your money there, with enough referrals you can top off at five percent APY without even loaning your money! We love this, because it is almost like a bank, makes you way more money, and it's fully insured. Also, you get to play the role of the bank in the monopoly game, but real life. The bank always wins! With this site, you'll always be on top. Make sure to sign up, give it a try. We started with $1000 at 10 percent APY, and in one month we got $8.33 in profits. That's $100 per year of really doing nothing. So long story short, we became the bank, and got our $1,000 back, plus 10 percent extra. Who doesn't want that?
If you want to know more free ways to manage your money check this link out.