Help Make It Happen With a Money Market Account From Ally Bank.
When it comes to life’s special occasions—weddings, graduations, christenings or just any birthday ending in a zero—it’s hard enough to come up with just the right gifts, let alone make sure you can afford them. Ideas like the one about the average cost of an engagement ring being equal to two months’ salary don’t always hold up in every economy, especially when you’d rather get the benefits that come with paying cash.
Make the occasion special without the budget stress by planning ahead. Like any other financial decision, the more time you give yourself, the better chance you have of reaching your goal without making drastic changes in the rest of your budget. It may sound overly simplistic, but it really comes down to answering three questions:
- How much money do you need?
- When do you need to have that amount?
- How are you going to save?
When saving for a special occasion gift, it’s not really important to know things like the average cost of an engagement ring. It’s more important to think about how much you can afford, or if you’re teaming up with others, how much the whole group can afford. Come up with a target amount, and go from there. Then divide that amount by the number of months until the event, and you’ll have a monthly budget amount that you need to set aside. You might consider opening a separate account for your gift fund to make sure you don’t tap into those funds and also make the growth easier to track.
The Ally Bank Money Market Account is ideally suited to this purpose because you open and fund an account with any amount, earn a great rate of return, and have flexible access to your funds. Our money market account comes with free standard checks and a debit card for convenient access to your money. You can use any Allpoint no-fee ATM—plus receive up to $10 reimbursement for fees charged at other ATMs nationwide each statement cycle.
Plan ahead and wow your loved one with a special gift—without breaking your budget. Get started at Ally.com or call live, 24/7 customer support at 877-247-ALLY (2559) today.
Ally Bank, member FDIC