Types of Savings Account
This basic savings account usually has lower interest rates.
What is a traditional savings account?
Saving money helps you reach these two types of financial goals.
What are short term and long term goals?
In the 50/30/20 rule, this percentage goes towards needs.
What is 50%?
What does APY stand for.
FDIC insurance protects up to this amount per account.
What is $250,000?
This type of account usually offers higher interest and is often online.
What is a high-yield savings account?
Saving helps you avoid relying on this when money is tight.
What is debt?
Money set aside for unexpected expenses is called this.
What is an emergency fund?
What is compound interest?
FDIC protection is run by who.
What is the U.S Government?
This account earns higher interest and may allow limited check writing.
What is a money market account?
Saving money helps people become less dependent on loans and credit cards, leading to this.
What is financial independence / retirement ?
Tracking spending, reducing eating out, and using apps are all examples of this.
What are saving methods or budgeting strategies?
APY is used for savings, while this is used for loans and credit cards.
What is APR
FDIC stands for what.
What is Federal Deposit Insurance Corporation?