Do you prefer Savings account over Money Markets or CDs?

Katy1234

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• #1

Do you prefer to keep your extra money in a savings account to earn interest, or do you have it in Money Markets or CDs? We no longer have a Money Market account because it didn't give good interest rates, so it wasn't worth it. We have a Savings as part of our investment strategy, and we have some CDs, but we also have other types of investments.

 

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Stardom22

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• May 20, 2024

• #2

For me l would prefer the saving accounts to the CDs for that matter. I am very confident with that.

 

Cam

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• May 21, 2024

• #3

With a high yield savings account, you have a pretty good interest rate anyway. I don't mess with CDs. You'd get stuck paying a fee if you needed to pull your money early.

 

arunima

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What is this CD?
I believe in keeping the financial portfolio diverse. It's better than keeping all your eggs in the same basket.

 

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Ratine

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• May 23, 2024

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Saving accounts would be the best option for me when l were to to compare between the two.

 

eldavis

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• May 24, 2024

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I think it is a lot easier for me to simply keep the money in a savings account.

 

nomad

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• May 26, 2024

• #7

I prefer saving accounts, especially fixed deposit accounts instead of money markets or certificate of deposit.

 

You

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• Jul 12, 2024

• #8

I prefer savings accounts for their flexibility and ease of access. I like knowing my money is liquid and readily available if I need it.

 

Hate2Wait

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• Jul 13, 2024

• #9

I do prefer saving account over any other account and its important to have a saving account and have decent amount of money in it for emergencies

 

Kera

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• Jul 13, 2024

• #10

A savings account with a pretty good rates of interest is my choice. I have some funds in a savings account that pays 13% per annum.

 

freelancermaria

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• Aug 9, 2024

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I am not familiar with the concept of the money market. I like to keep my money in my savings account.

 

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Ratine

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• Aug 9, 2024

• #12

Of course yes. This is because on savings my money is very safe unlike on the capital markets where the money is subjected to the potential risks.

 

Shavkat

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• Aug 9, 2024

• #13

For now, I prefer to save the working capital through my savings account. If it is needed, then it will be great without considering having the loans.

 

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Springtime

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• Sep 25, 2024

• #14

I have money in savings account and a fixed deposit account which offers higher interest. I do not know enough of CDs. Other than fixed deposit, I buy stocks, mutual funds and bonds.

 

cherry123

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• Sep 25, 2024

• #15

I only have a savings account and it is pretty helpful to me. I don't get good interest from it though but I like that I can save with it

 

Hate2Wait

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• Sep 27, 2024

• #16

I also prefer having a savings account because it will help us withdraw or deposit at any time and we can easily make payments from money in the bank

 

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Kosi G

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• Sep 28, 2024

• #17

Money markets are volatile but they pay really well. Savings accounts are less volatile. But they pay low. I prefer the money markets.

 

Hate2Wait

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• Sep 29, 2024

• #18

I am also trying to study more about these options and like to multiple my savings and this can help me get some passive income coming from these.