10 points --If you don't have money in your saving account?

Question

Where do you save your money? Thank you

Answer 1

Beware of high yield accounts (Countrywide - be real). Invest in state triple A rated bonds. You get paid distributions 2 times a year and your money just stays there. You're spinning an income off it but you are not risking losing the original investment like in the stock market. Find a financial advisor to help you determine what is right for you. FDIC insured is best - but even that is no guarantee. Good luck

Answer 2

First let me say that the safest place to keep your money always has been and always will be an FDIC insured bank, just look at the recent bank closings across the country. Second while yes you can make more interest in money market accounts, savings bonds etc. remember that there is always time constraints on those and that if you need to take the money out any penalties that you incur will cost far more than any extra interest you have earned. As for the first person who chooses to keep their money in a Countrywide acct. Are you freakin nuts???? Look at all the trouble Countrywide is in!! Do your homework and invest your money wisely!

Answer 3

I use higher yield money market accounts such as at Countrywide.

Answer 4

I rarely have money in my savings account. Why? There are better places to keep it.

Stocks, retirement accounts, etc. Since I am in my 20s, I avoid bonds/cds/etc as time is on my side. I do keep a few months worth of cash in a money market account in case I need it.

Money I need for day to day expenses are in my checking account. I rarely if ever use my bank's savings account.