Paying Yourself First To Save More

Best Places to Keep Your Money

There is no right or wrong answer to this question, but some suggestions are slightly better than others when it comes to the best places to keep your money. For example, a traditional savings account with your financial institution might be the best place to keep money in an emergency fund, as it's easily accessible if you have an emergency such as car repairs or a house repair. If you don’t want to access your money easily, you might consider placing it into an account you cannot touch without jumping through hoops, a high-yield savings account, a certificate of deposit, or an investment account with a financial firm might be the best options. You also have 401(k) plans and IRAs for your savings. If you’re unsure how you want to save your money, check with your local bank and credit union to see which accounts are the most profitable for you.