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Why Should You Have Security or Rainy-Day Money?
For everyone, having security or rainy-day money is invaluable.
You never know when you will experience an unexpected financial
hardship such as losing your job, repairing your car, or caring
for a sick relative.
One Of The Most Sensible Places For Your Security Money
For many women, rainy-day money goes into bank savings accounts
or low earning checking accounts.
Moving your savings from a low interest account to one that
earns competitive money market rates will start to earn you
more money. Most brokerage and mutual fund firms offer money
market checking accounts that are safe, pay competitive interest
rates, and offer ATM cards and unlimited checking.
Money Market Accounts Offer 4 Times the Average Checking
Account Rate
If you have $10,000 sitting in a typical savings or checking
account earning only 1% annually vs. the 5.5% it could be
making in a money market account, you are losing $450 of extra
interest per year. Move it into a money market account now
and start reaping the benefits of extra interest.
For more information on money market accounts, go to MsMoney.com's
Banking
& Credit section.
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