You have worked hard to save your money, now it’s time to make your money work hard for you. Investing your money is the easiest way to make your net worth grow, even while you sleep. Depending on the amount of funds you have to invest and your investment goals, you will want to research the different options carefully.

Rockford Banking Rates want to help you earn money, save money and put yourself in the best position for your own financial situation. If you have a savings account that you do not need for the rest of this year, it may be a good idea to invest into a 6-12 month CD and take advantage of the higher interest rates. You can earn up to 1% or more in a CD versus a savings account with a $5000 CD over 10 years; that can be over $500-$1000 more in interest payments with the higher CD rate.

CDs or certificates of deposit offer higher interest rates than many other types of savings. Where a regular savings account might offer a 0.10% APY, long term CDs can offer rates higher than 2.00% APY. However, because CDs are a timed investment, many people are afraid to invest too much money into CDs. Your financial attitude can help determine what type of CD is right for you. Consider which profile fits you best before choosing a CD.