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Did you know that your savings portfolio should be diversified just like your investments? Financial experts recommend giving your savings as much chance at growth as possible. Let’s take a look at an especially great choice for diversifying your savings: a share certificate. 

Inflation calculator with money background.

With inflation at record highs, many Americans are finding it difficult to stick to a budget. After all, when groceries have leapt in price and household staples can be double, or even triple, what they cost just a year ago, how can the same amount of money get you through the month? 

Sticking to a budget during times of high inflation is challenging – but not impossible. Here are five ways to budget while in times of inflation.

Young couple holding cash and smiling while hugging

A share certificate is a federally insured savings account with a fixed dividend rate and a fixed date of maturity. The dividend rates of these accounts tend to be higher than those on savings accounts and there is generally no monthly fee to keep the certificate open.

Aside from the higher dividend rate, share certificates differ from savings accounts in the more limited accessibility of the funds within the account. A typical certificate will not allow you to add any money to the certificate after you’ve made your initial deposit.

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