by CI Staff
MoneyChimp is a website that was created to educate investors by providing basic information on investing and investing terms. It also features several different types of calculators for taxes, capital gains, retirement, inflation and more.
On the home page you see different topic titles and links underneath the titles that provide information on that topic. For example, information regarding index funds sits on the top left-hand side. Featured topics there have included “Why index investing makes sense,” “What indexes and index funds are” and “How much are stocks worth?” By clicking on the links under the topic "How Much Are Stocks Worth?", investors can learn the logic of stock valuation using different models. If you often find yourself confused by official economic reports, MoneyChimp.com has a guide to economic indicators and several other useful tools to help analyze the economy. There are links to graphs explaining bond yields, compound interest and more.
Along the right-hand side of the website you’ll see links to current economic indicators. If you click on any category, for example “housing starts,” another page will pop up. This page includes the most recent economic reports, achieved releases, the current change, the previous change and more. This is useful because you can compare previous reports with the most recent figures. From this page you can also link to a U.S. Commerce Department website where you can create charts with all the previous reports in the form of a table, bar chart or line chart. The current press release on each indicator can be downloaded as a PDF or Excel file. Further down on the right-hand side of the home page, viewers can click on articles regarding new information on such topics as IRA rules or Social Security contributions. This is important because our laws and regulations are constantly changing and this feature makes it easy to stay up-to-date with the changes.
MoneyChimp is a pretty basic site, but offers a lot of information and presents it in a clean and simple way. It includes a pop-up glossary and many different calculators. A site like this is good for beginning investors, but also for individuals who want to brush up on their basic finance, investing or economic lingo.