Every Monday is Money Management Tips day.
The first day of every week, I present tips and suggestions for better money management. Last week, I presented the Online Savings Account from HSBC where you can earn an impressive 5.05% on an account with the convenience of online banking, quickly available cash, and bank-to-bank transfers with ACH.
Today’s tip is targeted toward those who operate online a lot.
Anyone who is familiar with Paypal knows the site provides a great service to pay for items online without putting your financial information at risk. You can now use Paypal and put your money in a money market account to earn a nice return on investment (ROI) - 5.03% (7-Day Average Yield as of 7/24/2007).
Paypal’s website listed three reasons to sign up:
- Immediate access: Get your money just as fast as with your PayPal account.
- No minimum investment: Invest as little as $1.00 USD in the Money Market Fund. You don’t have to worry about maintaining a certain balance.
- Managed by experts: PayPal’s Money Market Fund is managed by Barclays Global Investors, international experts who oversee over $1.50 USD trillion in global assets.
Now, you can use Paypal for online purchases and as an investment solution for short term cash equivalents!
Check it out: Paypal’s Money Market Account.
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