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Savings accounts earn interest.

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โˆ™ 2009-03-19 23:36:53
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Q: Why does a savings account make a better investment than a checking account?
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What makes a savings than a checking account account a better investment?

A savings account earns interest.

What makes a savings account a better investment than a checking account?

A savings account earns interest.

Why does a savings account make a better investment than a checking accounts?

Savings accounts earn interest.

What makes a checking account useful compared to an ordinary savings account?

Well first of all a checking account is much better than a savings account and that is how it is better

Why is a checking account better than a savings account?

cause checking account is more safe

What makes a savings account a better investment than a checkings account?

A savings account earns interest.

Why does a savings account make a better investment than a checking count?

Savings accounts usually have higher interest earning rates as the money is more stable than a checking account whose balance fluctuates with income and expenses.

Why is a savings account better than a checking account?

A savings account may pay higher interest rate than a checking account. Also, you don't have bounced checks, and NSF fees, normally.

Is a savings account worth the trouble?

A savings account should be a vital part of everyones financial planning. It is good to have separate savings and checking accounts to better prepare for your future.

How much better is a savings account than a checking account?

This depends entirely on what it is that you want the account for. If you're trying to gain interest on your money, probably a savings account is better, but by how much depends on the bank and the rates they are giving you. If you mainly want an easy way to store and spend money, a checking account is probably the way to go.

What are the benefits of having a savings account instead of a checking account?

Since a savings account acquires interest it can be a good intensive to put away money that is better spent on large purchases. A savings account can also create a healthy habit of saving money for a rainy day.

What is the difference between a high yield savings account and a regular one?

A high yield savings account is more of an investment than a regular savings account. Most people put money into the high yield account without removing it for extended periods of time, so interest can compound. If you're living paycheck to paycheck, or are saving to travel in 6 months, a regular savings account is a much better choice.

Will a babysitting job pay better than a regular savings account?

A full-time babysitting job would pay better than the yield on a savings account even if you had $100000 in the account.

Should you tie a savings account to a checking account to prevent overdrafts?

That's up to you. It can prevent overdrafts, but it also allows someone who gets your checking account information to clean out both accounts, not just your checking account. You'll need to evaluate the risks and benefits yourself. Most banks now offer online banking which allows you to transfer funds from your savings account to your checking account at home, so if you're reasonably diligent about keeping track of your checks, keeping the transfers under your control might be better. You might also want to check with your bank regarding their policy. If you have substantial funds in savings, they may waive the occasional NSF fee on the grounds that they know you're ultimately good for it.

Is a checking account or savings account better?

Ideally you should have one of each. Checking give you more access to your money, but do not pay usually pay interest. Saving accounts are designed for people to have an easy place to store the money they do not plan on spending immediately. Savings accounts tend to earn small amounts of interest. It is actually better to invest money you are not planning on spending anytime soon to make more money

What are some benefits of interest savings accounts?

Benefits for interest savings accounts include having quick access to money in case of an emergency. Although, saving accounts don't make much interests now a days having money in a savings account making interest is better than a checking account not making any interest.

My current account gives me interest on my savings and my Mom says that it's better off to open up a savings account Why?

If you want a higher rate of interest compared to what you get on your current account you will need to look for a savings account. If you are keeping a lot of money in your current account you may be missing out. Compare rates and see if there is an account that would suit you better.

Which banks offer the best savings account rates?

You will find the best rates for savings with an online account. THe larger your deposit the better your rate will be,try Netbank.

Is a bank savings account interest rate better than a CD?

No, CD rates are higher, but you cannot withdraw the funds as easily as a bank savings account.

Credit Union?

form_title=Credit Union form_header=How can joining a credit union benefit you? Better rates and fewer fees are just a few of the many reasons as to why. Have you used a credit union before?*= () Yes () No Are you looking to open a checking or savings account?*= () Checking () Savings Do you have any outstanding accounts with another bank?*= () Yes () No

Should I open both a checking and a savings account, or is one better than the other?

Having both a checking and savings account is often a good idea. A checking account is designed to help you deal with the cash inflows and outflows to run your life (writing checks, ATM/cash cards, automated bil payments). A savings account will pay interest on the money in it. There may be restricitons on how you can access your money in the account -- this allows the bank to pay you a higher interest rate. A bank or credit union usually has a range of accounts or set of acounts that will meet your needs. There are hybrid accounts that allow you to earn interest and write checks, have an ATM card, etc. A separate savings account can help you manage your money buy removing it from the one you use for your regular expenditures (you will be less likely to spend it!).

What online bank offers a totally free checking account?

Although most of the online banks discuss savings account options to get better interest rates over the "brick and mortar" counterparts, there are online banks that offer free checking accounts also. One example of such banks is UnivestDirect online bank.

Is it correct to say do not leave large balance in checking account?

That is close to being correct, but not quite. A better phrasing would be, do not leave a large balance in your checking account.

What is the best kind of checking account to have?

The benefits of a bearing checking account is that if there are errors of overdraft you can dispute them better but overdraft protects the person from paying more in the long run.

What are the principles of checking account deals?

Banks will offer checking account deals to lure in new customers. The deals can be anything from better than normal interest rates, bonus amounts in your account or bonus add-ons to your account.

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