Most often people tend to get confused with money market accounts and money market funds.  Money market accounts (MMA) are more or less like savings accounts and are advertised by banks.  In reality, they are very similar to the regular savings accounts.  The most distinguishing factors between money market accounts and money market funds are the factors of choice and risk.  This could be the single largest factor one will …

Interest rates in money market accounts as well as money market funds have gone really low and are probably the lowest in comparison with any other investment.  At one point in time, these were considered the most decent investment options but now they pay as much as a standard savings account.  Prior to the great recession the money market rates were very different and hence it becomes all the more …

As children we all grew up saving money in piggy banks and always felt that we had a fortune every time a little coin was dropped into these piggy banks.  However, as we get older and as we begin to age, our savings are distributed in various places and they no longer resemble the piggy bank in any way.  Though the method of saving might differ, the end results are …

Free checking accounts minus the monthly maintenance fees are no longer easy to get as banks are making it increasingly difficult for people to qualify for checking accounts.  However, one can still avail a free checking account facility if they are willing to change their outlook a bit or by changing their banks. Last year, Wells Fargo had raised the requirements on its free checking accounts.  Bank of America is …

The banks first took away the free checking and now they are charging more on withdrawals from ATM’s as well as ‘stop payments’ on checks and such services.  The banks are most notably gearing up for a cap on fees that can be collected from merchants whenever the consumers use their debit cards for purchases.  This proposed restriction, some believe, could slash the income by at least 70% which is …