As you investigate ways to save money on health care for your family, you’re likely to run across information on setting up health savings accounts. These tax-free savings plans work much like traditional savings accounts, but the funds can only be used for qualifying health care expenses. HSAs pair nicely with high-deductible health insurance plans, […]
Read more...Two very common ways to begin saving are with a savings account and savings bonds. While both are very low-risk ways to save money, they do have different characteristics and offer different potential returns that make each better suited to certain situations. When it comes to saving money, every little bit helps. However, with so […]
Read more...Did you know there are banks with free checking and savings accounts that let you use your savings account in the event of an overdraft on your checking? In July of 2010 federal laws changed the way that banks and credit unions are allowed to charge you overdraft fees. Prior to this law, banks would typically […]
Read more...Are you looking for what savings account is best for you? Is interest rate driving your choice of savings account? Are you thinking of saving for a short-term goal? Do you want to teach your child how to start saving? Depending on what you want, there are about three types of savings account which most […]
Read more...Many financial experts consider money market accounts a good investment. If you are looking to earn more interest than what your savings account provides, a money-market account may be right for you. Money market accounts are a good investment if you want a safe way to grow your money and can afford to maintain a […]
Read more...Three types of college savings accounts are the 529 Plans (Prepaid Tuition Plans & Education Savings Plans), Educational Savings Accounts (ESAs/Coverdell accounts), and Custodial accounts (UGMA/UTMA). 529 plans and Education Savings Accounts (sometimes referred to as ESAs or Coverdell accounts) are saving plans that American parents can use to help finance their children’s college education. […]
Read more...What are the various Money Market Accounts pros and cons? Money Market Accounts offer multiple benefits to its account holders ranging from higher interest rates to being backed by the Federal Deposit Insurance Company (FDIC) or the National Credit Union Administration (NCUA) as the case may be. While the combination of possibilities they offer seem […]
Read more...Tax-free savings accounts (TFSAs) are the best way for individuals to save towards their financial goals. The capital gains and investment income earned from TFSAs are usually free from tax. As a result, it gets easier to save money for short-term and long-term goals. In addition, these accounts complement other saving plans such as Registered […]
Read more...What is the best savings account for children? This is a common question that every parent asks whenever they are planning for their children’s future. While savings account helps parents to save for the child’s futures, a savings account is usually the first step of guiding the child towards financial literacy. Apart from the resulting […]
Read more...The 5 best savings accounts of 2018 are Marcus by Goldman Sachs, FNBO Direct, Ally Bank, CIT premier high yield, and Synchrony high yield. These accounts offer APYs between 1.90% and 2.15%, with all having great online services and low fees. The Best Savings Accounts of 2018 and Why In today’s world, people […]
Read more...