Tylers part

Slidkalniņš: 1
The next way of saving and to get a high Yield Savings Account. This way of saving is usually available at online only banks. This account offers a higher interest than regulars accounts.
So I would use this account if I needed if I wanted to get more money overtime. I just have to watch out for the amount the want for the minimum deposit.
Slidkalniņš: 2
The third way to save is by using a certificate of deposit (CD). This account offers the same intrest as a high yield, the only main difference is that you must lock your money up for a certain amount of time with CD'S in order to have the same intrest rate for the whole time that the money is in there.
So I would use a CD account if I needed money to build overtime with the same rate.
Now you got it
Slidkalniņš: 3
The final way of saving is a Money Market account. In this account you have some different features. You are able to write checks and pay with a debit card while still getting the same high rates as other accounts. The only 2 main difference is that you must have a higher minimum balance to avoid fees and in this account the more money you have, the higher your intrest art is.
I think I understand now mom. I should open a Standard savings account with our bank as soon as possible so I could stars saving money for long term reasons. Thanks Mom

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