Money Market Account

Emergency fund, vacation, college, retirement, or just saving for that special thing you’ve been pining over; whatever your reason to save some for later, it is a wise decision.

A money market is similar to a savings account but with a little more flexibility.  Money markets typically earn more interest than a savings account and you can write checks on the account.  However, they have a restriction on the number of checks or withdraws you can make within a month.  Money markets also require a larger amount to open than a savings account.

These accounts are great for emergency funds.  They allow you to keep a larger amount set aside but it is quickly available when needed.