Savings Accounts

The Thing About “High Interest” Savings Accounts

  Although it sounds attractive, the term “high interest” can be misleading. While you shop around for the best rate, it can be hard to keep your facts straight. Here’s what you can expect from so-called “high interest” savings accounts—and an option that may be a better fit for your funds. What is a “high […]

Savings Accounts

Beyond the Piggy Bank: Best Children’s Savings Accounts

  Ah, saving. It’s probably the most important money lesson kids can learn. So you’ve taught them to set some of their allowance aside, and now the piggy bank is full. Here are some answers to questions you may have about taking the next step and opening an online savings account for your child. What […]

Savings Accounts

How to Open a New Online Savings Account

Here’s something you can check off your to-do list in just a few minutes: open a new online savings account. An online savings account is a secure way to manage and access your money—while you earn interest. And, opening one couldn’t be easier. Here’s how to open an online savings account now. 1. Choose a […]

Savings Accounts

Online Savings Accounts: 5 Tips for Making the Most of Your Savings

  You already manage so much of your life online, it just makes sense to manage your finances online, too. An online savings account can be a great way to save money and make progress toward your financial goals. Take a look at these 5 tips for making the most of your savings.   1. […]

Savings Accounts

Money Market Accounts vs. Savings Accounts

First of all, be proud of yourself—your money-savvy habits have paid off and now you have some savings to set aside. You have plenty of choices when it comes to managing that hard-earned cash. Two of the most common places to deposit your savings are money market accounts and savings accounts. While these two types of […]

Savings Accounts

CDs vs. Savings Accounts: Understanding the Difference

You already know that saving money is critical to meeting your financial goals, but choosing the right type of bank account is just as important. Although there are many kinds of accounts, two of the most common ways to save are certificates of deposit (CDs) and savings accounts. Understanding the key features of each type of […]

Savings Accounts

Savings Bonds or Money Market Accounts?

A few generations ago, U.S. Savings Bonds were a popular gift (not to mention a lesson in the virtue of saving) for children. Savings bonds still are a popular financial product and provide a good example of a low-risk, fixed-income investment. You receive a regular return, you can invest minimal amounts and you pay no […]

Savings Accounts

Learn the Difference

It's important to know the difference between a money market account (MMA), which is a deposit account offered by banks, and a money market fund (MMF), which is an investment product offered by non-bank financial entities like brokers, mutual fund companies, and so on. A money market account like the one offered by Ally Bank […]

Savings Accounts

Create a Sound Debt Reduction & Savings Plan

No matter what's going on in the economy, it's always a good idea to minimize debt and also have enough money to support your daily expenses and lifestyle. A solid debt reduction strategy includes a savings plan. Because money market accounts offer security, flexibility and a way to earn interest on your deposits, these types […]

Savings Accounts

4 Things the Best Savings Accounts Have in Common

Opening a savings account can be a great way to safely park your money while also earning interest on your deposits. If you're looking to find the best savings accounts that banks offer, there are four things you should consider. 1. Annual Percentage Yield, or APY. APY refers to how much interest you earn on […]

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