You may have been taking advantage of high APY rates in the form of high-yield savings accounts, but did you know there are more ways to grow your money using APY? CDs, or certificates of deposit, also pay you interest in exchange for borrowing your money for a certain length of time. When the CD matures, you receive more back than what you put in.
In her latest #FinanceFriday video, Ulta Beauty's Senior Director of Education and Creative, Anna Manukyan, breaks down an investing technique called CD laddering. See how it can help you build wealth in a low-risk but effective way in the video below:
Originally posted on Modern Salon