Saving and Investing

Written by Sarah Shrodes

Saving and Investing

Saving money is setting aside a portion of your net income to be used later for large purchases or emergencies such as household appliances and potential medical bills after taxes and personal expenses have been paid. Investing is spending money now to increase your income later by collecting interest. Many different banks offer a variety of plans for both saving and investing and both can be beneficial to the customer.


  • PNC Bank offers savings accounts for short-long term, retirement, and fixed intrest rate savings accounts. They also offer both simple and compound savings accounts to choose from. Compound savings accounts are almost always the better choice of the two types because the new amount to be added will be based off of the new current amount rather than the original every time.
  • PNC also offers tow types of investing accounts. One is a general account that can be personalized with the help of an adviser from the company. The other account is a capital account that is based off of a person's current assets in a more professional system.