On The Money: How to stash cash in money market accounts
A money market account typically offers better interest rates compared to standard interest-paying savings and checking accounts. But this type of account usually comes with terms different from a savings account, such as a specific balance minimum.
If you’d like to learn more about money market accounts, and explore it differs from a money market fund, these sites might prove useful:
—Bankrate.com: Discusses basics on money market accounts, along with pros and cons. http:/// www.bankrate.com/finance/savings/money-market-accounts.aspx
—Financial Web: Compares the differences between a bank money market account and a savings account. http:/// www.finweb.com/banking-credit/general-banking-credit/bank-money-market-account-vs-savings-account.html
—Money Rates: Primer on money market accounts. http:/// www.money-rates.com/basicguides/moneymarket/money-market-accounts-primer.htm
—Nolo: Provides differences between a money market account and money market fund. http:/// www.nolo.com/legal-encyclopedia/money-market-deposit-accounts-mutual-funds-30007.html
—Simple Debt-Free Living: Offers overview of how money market accounts work. http:/// www.simpledebtfreeliving.com/moneymarketaccount.html
©2013 McClatchy-Tribune Information Services
Distributed by MCT Information Services
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