Open a Savings Account and Grow Your Money Today
Putting all your hard-earned money in a regular checking account is a waste of your time. And money. Your money just sits there, doing nothing, while you go to work every day. There is a way to change this. Instead of working hard for your money, let your money work hard for you and grow. The road for financial freedom goes through exponential growth.
Which Savings Methods Are Available?
Certificates of Deposit (CD)
Certificates of deposit are savings certificates which have a specific yield and maturity period. It means your money will not be available for you during the time of the CD, but you will have more at the end. Usually, withdrawing money from CDs ahead of time incurs a penalty, but there are penalty-free CDs which allow you to withdraw at any time.
Money Market Account (MMA)
Money market accounts give you a positive interest on your balance, but are somewhat limited in transactions and often incur slightly higher fees than regular checking accounts. MMAs often provide high yield and are recommended for people who want interest and flexibility.
Savings accounts offer interest for your deposits, but are much more limited than regular checking accounts with regards to the availability of money. They are usually liquid, and are recommended for emergency funds.