A compass with a $1 bill in the background
investing
Chapter 1: Building liquid savings

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.

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
advertisement

CDs and Investment

Can heirs cash an old trust?

Dear Dr. Don, The youngest of 6 children, I am 48 years old. My father joined the Navy at 22. In Italy, he met his bride and my mother, and returned to the U.S. to raise our family. In 1959, he bought a trust certificate... Read more

advertisement

Blog

Stephen Pounds

Brexit may hurt US exports, help interest rates

Voters in the United Kingdom have approved a referendum to leave the 28-nation European Union in a move that is sure to disrupt markets today and possibly longer.  ... Read more

advertisement

Connect with us