Savings Account
By: Jack Galen
What is a Saving Account?
Saving Account: Somewhere to store extra cash that you can access easily in an emergency, but not so easy that you'll spend the money on things you didn't intend to. A key component of any good personal financial plan
Advantages
- Easy to setup and maintain
- Links directly to checking account
Disadvantages
-Very low interest rates
-Does not make your money work for you