High Interest Investment

Is there any benefit to holding off on adding money to a savings account, if interest is calculated monthly?

I'm not sure if it would be better to hold onto this money until a few days before interest is calculated or if it would be better to input the money at the beginning of the money? Is there any benefit of delaying putting in money into the savings account? As far as I know, the interest just gets calculated monthly. Do you get more return on interest throughout the month, by putting more money at the front of the month? This is what I'm not sure about, cause all that I was told was that interest is paid monthly.

Public Comments

1. if interest is paid monthly, put your money in as soon as possible
2. Yes, the longer the money is in the account - the more interest you can earn. For example: Put money in on 1st of month = FULL month of interest. Put money in 15th of month = HALF a month of interest. So the earlier it goes in, the more you can earn. Of course, if you get paid every other week (or even weekly), there is nothing wrong with putting that money in as frequently as you get paid. Good Luck!