Saving is Important
By: Dan Rutan P3
Savings vs Investing
There are many differences between two versions of saving your money, and they are savings and investing. Savings a pieces of your income that is not spent on consumption. While investing is the purchase of assets with an idea to increase your future income. Building a savings plan is important because it is vital to financial security and it helps someone work towards wealth accumulation.
Automatic Savings Plan
Chase Bank offers an automatic savings plan that allows you to set up a repeating automatic transfer from your CHASE checking account
Mega Money Market
Heartland Bank offers a Mega Money market which allows you to deposit a minimum of $25,000 and you can change the amo8unt however you choose.
College Savings Plan
PNC Bank has a college savings option which allows you to defer taxes and maintain control over your account. It also allows you to make large contributions.