Is a CD or a savings account better?

Answer On One Hand: Benefits of CDsA CD or certificate of deposit is a high-yield investment account. According to the website My Bank Tracker, they have higher interest rates and can be either short- or ... Read More »

Top Q&A For: Is a CD or a savings account better

Are you better off paying off credit card debt or leaving the money in a savings account?

On One Hand: Debt Is Expensive.The typical credit card charges you an annual interest rate far higher than the interest you receive for keeping money in a savings account--often 10 times as high, o... Read More »

What is the difference between a health savings account&a flexible spending account?

Health savings accounts (HSAs) and flexible spending accounts (FSAs) are ways to put money aside for future heath care costs. Both provide tax advantages, but the qualifications and functions of th... Read More »

Is there a difference between the APY on a savings account& a high-yield money market account?

No, the formula for annual percentage yield (APY) is one plus the periodic interest rate. Then raise the sum to the power of the number of periods of investment. Finally, subtract one. The formula ... Read More »

Is a Money Market Checking Account Also a Savings Account?

Money market deposit accounts (MMDAs) are bank savings accounts that have some of the withdrawal capabilities of checking accounts. Some people think money market accounts are checking accounts bec... Read More »