“Men of Morehouse,” as our Miss Maroon and White would say to us if there were another pageant to be held, there is a way in America to make your money grow on a tree. This metaphor may seem a bit absurd, but it is true. Bank of America, Regions, MetLife and many other banks have money markets in which now money is a product.
A certain amount must be deposited in order to start this account. The bank of your choice will have its projected amount in the information packets. Now is the time to grow money, while in school to ensure that after graduation comes, a certain somebody will not be broke. As we approach a better economy, building money in the banks will not be such a bad idea.
FDIC insures Americans with $250,000 in case a situation happens within the bank. Many college students have savings accounts, but savings accounts only serve their purpose. A student usually touches his or her savings account when the money will not be spent for a good reason. Remember the piggy bank of your childhood or the mysterious sock that no one could find in your house?
Now take those childhood memories and open up an account so that money can grow. A man of Morehouse has to learn how to plant small seeds in order to watch trees grow. At this pivotal time in, life young men must learn what it means to grow money instead of letting it all go swiftly. Banks have an interest rate on the money that is in an individual’s account. Accounts such as these have more restrictions than a checking or savings account.
Banks put a time period on when an individual can take money out of their account, this way an individual has no other choice but to watch their money grow. Kudos! Now money has to grow to make an individual’s future brighter.
A teenager might dream of picking money out of a tree, but is that really possible? Money markets make that dream possible by providingAmericawith a way to watch money grow as if money grew on trees. Student loans stack up heavily, but now there is another way to pay them off. Wall Street offers ways to build money by investing in stock and to watch that money grow.
Depending on the company, a stock value can increase which will make money double, or triple. Investing is a great way to be safe with money as long as research is done to be sure about the revenue that is to be gained. Money can grow instead of disappear from us forever.
Spending is great, only when the purchase is below your means. “Men of Morehouse,” the dream of picking money off trees may be far-fetched but growing money is not out of the question. This dream is not impossible.
Paul Robinson
Contributing Writer
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