Managing Your Money-Lesson 3

By Logan Malloy


Savings Account

A savings account is good to have in order to store some extra cash that you can access in an emergency. Its no so easy to access in order for you to spend money on things that you don't intend to.
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2 Advantages

1. Easy to setup and maintain

1. Quickly and easily move money between the two accounts.

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2 Disadvantages

1. It has very low interest rates (such as .1%)

2. Does not make your money work for you.

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