How to spot a credible fintech in a world with FTX and SBF fiascos 

We’ll share how you can spot credible fintechs.
With the news of the FTX demise and arrest of their founder Sam Bankman-Fried (known commonly as SBF), it can be difficult to trust new startups and fintechs. But we’ll share how you can spot credible fintechs.   Ultimately, credibility can be found in trust signals that are linked to government-regulated memberships and a fintech’s partner network.   Credibility factor #1: FDIC insurance  You’ve likely seen some fintech companies use this language: “[Company name], nor any of their affiliates is a bank, but we partner with [partner] Bank, Member FDIC.”  This commonly used disclosure aside, language like this provides customers with two…

Portfolio diversification: What is it and why does it matter?

Portfolio diversification is key.
Portfolio diversification is key. A balanced investment portfolio is made up of a variety of investments that work together to help you achieve your financial goals while reducing risk.  For an individual investor, the more diverse their portfolio, the more protected they are from potential losses arising from market fluctuations. A portfolio that is too concentrated (for example, all invested in stocks) is subject to greater risk than one that spreads investments across different asset classes and geographic regions.   At Save, we utilize quantitative techniques to determine relative asset preferences, carry out risk-based asset allocation, and apply volatility control overlays…

4 ways financial literacy is built with Save

Woman biking with children
This is how the Market Savings terms can teach financial literacy and save you money. The significance of five years is extremely relative. The five years until your middle-schooler leaves for college seems like a lifetime away, but it flies by in an instant.  Let’s say you put $5,000 in a 5-year Save® Market Savings term in the summer before your child’s 8th-grade year, then you make an additional $5,000 deposit for a 2-year term the summer before they started their junior year in high school. Where most savings accounts would earn less than 3% in interest, the Market Savings…

Following the Rule of 72, potentially double your Market Savings deposit in less than 8 years

Rule of 72 shows you should double your deposit in 8 years
How long does it take an investment to double in value? Meet the Rule of 72. This is a simplified equation used to estimate the number of years an investment may take to double at a given annual rate of return. The Rule of 72 states that you can get an estimate of how long a sum of money will take to double by dividing 72 by the rate of return:  72 / (annual return) = (years for principal to double)  An example: An investment with a 9% annual return, means your money should double every 8 years.   The Rule…

University of Houston Graduate Students Join Save’s Development and Security Teams

Save CultureFinanceSecurity
This summer, University of Houston students Nilesh Dikhale and Aditya Pendse will gain startup culture experience before entering their final school year.
This summer, University of Houston students Nilesh Dikhale and Aditya Pendse will work alongside the development and IT security teams, respectively, to gain startup culture experience before entering their final year in graduate school. As Save continues development on improving our systems and product offerings, Nilesh and Aditya will help the team execute our newest product offerings, including the Wealth Card and Market Savings account, and ensure they’re secure. For both University of Houston graduate students, the startup environment is an appeal because of the opportunities to own and manage a diverse range of responsibilities. More specifically, Nilesh particularly was…