Have you ever looked at your savings account and notice how little in interest your bank is paying you on your savings? I’ll explain how you can increase your interest rate by investing in a Treasury Bill rather than putting your money in a savings account on this episode of 2MinuteFinance.
After viewing the video, check out these resources below.
US Treasury – TreasuryDirect.gov
The official purchasing site of the US Treasury.
How to Compare Treasury Bill Returns Directly to Savings Account rates – MyMoneyBlog.com
A step-by-step process on how to compare your savings account interest rate against what the Treasury Bill will pay in interest.
How to Calculate and Compare Treasury Bill Returns – MyMoneyBlog.com
How to compare the returns of one T-Bill to another
Tax Equivalent Yield Calculator
Find your true interest rate after you factor in your tax rate using this calculator.
IRS Federal Income Tax Tables
Find your federal income tax bracket using this tax table.
California Personal Income Tax Tables
Find your California income tax rate using this table at the bottom of this page.