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  CDs and Investing Basics   Chapter 1: Building liquid savings
Why pay penalties to use your own money? Keep some liquid and even earn interest at the same time.
Sponsored by Fidelity Investments   

Building liquid savings: Introduction


Different types of savings vehicles allow you to access your money and earn interest too. See which is best for you.

Saving is the first step in a financial plan, and there are several ways you can save money, earn more money with that money through interest and still have access to it should you need it. In this chapter, you'll learn how much money you can earn through annual and compound interest and how interest rates are set. Then we'll look at the differences between savings accounts, money market accounts and money market funds.

What you can expect to learn from this chapter:
Develop a savings plan
  The difference between annual interest and compound interest is explained.
How interest rates are determined
  We hear a lot of talk about interest rates. This section will explain how the Federal Reserve sets rates and how those rates affect you.
Savings accounts
  We lay out the differences between passbook and statement savings accounts, and list the benefits and uses of such accounts.
Money market accounts
  The details on money market accounts, or MMAs, are spelled out.
Money market funds
  Find out how money market funds differ from MMAs.
Chapter 1 quiz
  Have you learned enough to choose the best place for you to save money?
Begin >>


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