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You can put the float into a money market fund. It is liquid and can earn maybe 1% interest. Which doesn't sound like a lot, but it is free money. And if you ha
by graton 6y ago
You can put the float into a money market fund. It is liquid and can earn maybe 1% interest. Which doesn't sound like a lot, but it is free money. And if you have millions of dollar in the reserves over a course of a year it can add up. $10 million at 1% is $100,000 in interest. I imagine they would have more than $10 million in reserves.
- wolco 6y agoIt would cost more for one new employee to run it than the savings.