So I have never invested money or bought bonds and was never taught about these things so any knowledge is welcomed ❤️
I read about I savings bonds and think they are interesting and want to try to get one but I want to understand it better first and if I’m understanding it correctly.
So say I buy a 10k max bond each month it makes 700? As the monthly interest is 7.something%. So in a year you get from interest 8.4k?
If that is correct then is the 8.4k interest then added to the 10k =18.4k in bonds that then this year that will be interested at the 7% or is it always interested(not sure if that’s the correct word) at that 10k you purchased the bond at?
And maybe some other good ways of using your spare cash to work/make money for you?