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You know that getting enough sleep, eating right and exercising are essential to staying healthy. But did you know saving money is just as critical to your financial health? Saving money is important because it can help you handle unexpected expenses, reach your financial goals and reduce stress. Here’s why saving money matters and eight […]
Why Is Saving Money Important? Read More »
Many banks and credit unions require you to keep a certain amount of cash in your bank account, whether it’s a savings, checking or money market account. The minimum balance requirement is the specific amount of money you’ll need to keep in the account at all times to enjoy certain benefits or avoid fees. Here’s
What Is a Minimum Balance Requirement? Read More »
You’re old enough to know the Tooth Fairy and Bigfoot are myths—but are you still falling for falsehoods about savings accounts? Believing misconceptions around savings accounts could keep you from using this essential financial management tool. Here are some common myths surrounding savings accounts and the facts you should know. 1. Myth: Your Money Won’t
6 Myths About Savings Accounts—and the Facts Read More »
If you’ve saved significant amounts of money, whether for short-term or long-term goals, bravo! You’re well ahead of many other Americans. However, just like other aspects of life, it’s possible to have too much of a good thing. Saving to prepare for emergencies, retirement or financial goals like buying a house is smart, to be
5 Signs You’re Keeping Too Much in Savings Read More »
Savings accounts are an excellent option to stash your cash and earn interest on your deposits. Of course, your money is always available for withdrawals, but can you use your account for other purposes, such as to write checks? The short answer is no. You won’t generally be able to write checks from your savings
Can I Write Checks From My Savings Account? Read More »
High-yield savings accounts can earn yields on account balances far beyond what traditional deposit accounts provide. These yields, while typically reliable, can still fall short of what’s available through other investments. When considering other options, weigh the factors most important to you, including safety, rate of return and how easily you can access your money.
6 Alternatives to High-Yield Savings Accounts Read More »
If you’re looking for a place to put some money for safekeeping, a high-yield savings account can be a great place to start. High-yield savings accounts offer interest rates much higher than what you can get with a traditional bank. With a $5,000 balance and a 4.00% annual percentage yield (APY), for instance, you can
Everything You Need To Know About High-Yield Savings Accounts Read More »
High-yield savings accounts and traditional savings accounts are both secure spots to keep your money and earn interest. They differ in key ways, however. High-yield savings accounts promise higher interest on your money than their traditional counterparts, but may have steeper minimum-balance requirements and other restrictions. Read on to learn more. What Is a High-Yield
High-Yield Savings Account vs. Traditional Savings Account Read More »
As benchmark interest rates rise, you might see the interest rate on your credit card and other variable-rate loans quickly climb to match. Suddenly you’re accruing more interest each month. But savings accounts don’t always respond as quickly, or at all. If you want to earn more interest, start by learning why your savings account
Why Are Interest Rates So Low on My Savings Account? Read More »
High-yield savings accounts can be great for both short- and long-term financial goals. As the name implies, they typically offer higher interest rates than traditional savings accounts. That can allow your money to grow at a faster clip. Some high-yield savings accounts may charge fees or impose minimum balance requirements, though most don’t. Every financial
What Fees Do High-Yield Savings Accounts Charge? Read More »
High-yield savings accounts offer higher interests rate than a traditional savings accounts, helping you earn more on your deposits. Whether setting aside money for a large purchase, an emergency fund or a down payment on a home, putting your money into a high-yield savings account can help you reach your goals faster. Find a High-Yield
Earn Money Faster With a High-Yield Savings Account Read More »
High-yield savings accounts and certificates of deposit (CDs) are two ways to earn much more than you would from a traditional savings account. Both are safe places to store your money, whether you’re saving for short-term financial goals or something that’s further down the road. But they’re different when it comes to interest rates and
What’s the Difference Between a High-Yield Savings Account and a CD? Read More »
A high-yield savings account can be a great place to keep your emergency fund or other cash savings. They’re known for offering higher annual percentage yields (APYs) than traditional savings accounts. That allows your balance to earn interest and work a little harder for you. Some of the best places to get a high-yield savings
Best Places to Get a High-Yield Savings Account Read More »
Money you save for a rainy day or major purchase could technically live in your checking account (or under a mattress), but savings accounts are a better place to park cash for emergencies and big-ticket items. Savings accounts offer numerous perks, including interest and deposit insurance, but funds are still liquid so you can access
4 Benefits of Having a Savings Account Read More »
There’s nothing wrong with a basic savings account, but if you’re looking for a way to take advantage of current high interest rates on savings, it may be worth opening a money market account. A money market account is a type of deposit account, sometimes called a money market savings account, commonly found at banks
4 Reasons to Get a Money Market Account Read More »
The best place to stash your money depends on a variety of factors, including when you need the money and how willing you are to take risks with your funds. Here are seven places you can save your money based on your financial situation and goals. 1. High-Yield Savings Account If you have short-term financial
7 Places to Save Your Money Based on Your Goals Read More »
