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 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 high-speed growth.
Which Savings Methods Are Available?
Certificates of Deposit (CD)
Certificates of deposit are savings certificates. They 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 comes with a penalty. There are penalty-free CDs that allow you to withdraw at any time.
Money Market Account (MMA)
Money market accounts give you a positive interest on your balance. But they are somewhat limited in transactions. They also often have higher fees than regular checking accounts. Money market accounts often provide a high yield. Experts recommend them for people who want interest and flexibility.
Savings accounts offer interest for your deposits. They are much more limited than regular checking accounts. Your money will not be as available as checking accounts. They are usually liquid, and experts recommend them for emergency funds.