In the Virgin Islands, a five-year financial plan helps consumers become more financially stable. For consumers who are just starting out, home ownership isn’t possible initially. However, by following a strict plan for five years, the consumers generate enough savings to achieve this dream. A financial consultant helps consumers set up their five-year plan to become a homeowner in the future.
Start a Certificate of Deposit
The consumer takes one-half of their income tax refund and starts a 5-year certificate of deposit account. The funds remain in the account until the maturity date to maximize their earning potential. The financial consultant explains which banks provide the highest return on the consumer’s investment...Read more »