Money Management Guide: Savings & Emergency Fund

<p>Higher interest rates</p> Signup and view all the answers

<p>Putting money into savings before spending on bills</p> Signup and view all the answers

<p>Commercial banks</p> Signup and view all the answers

<p>To provide protection to financial accounts in case of a bank or credit union failure</p> Signup and view all the answers

<p>Safe and reliable for short-term cash storage</p> Signup and view all the answers

<p>Checks involve physically writing an order to the bank, while electronic payments are done online</p> Signup and view all the answers

<p>MMAs have variable interest rates and require a minimum balance</p> Signup and view all the answers

<p>CDs lock in money for a fixed period with penalties for early withdrawal</p> Signup and view all the answers

<p>Higher interest rates on CDs as an incentive for lost liquidity</p> Signup and view all the answers