Savings

Why put your money into a savings account when you already have a checking account, and what is the point of having more than one bank account?

For starters, most savings accounts earn interest, often much higher than a standard checking account, which means your money is making money while it just sits there. In this course, we cover the basics of savings accounts, the various types of savings accounts to consider, and the benefits of opening an account.

We know that when you deposit money into a savings account, it earns interest, giving you extra money. But how much does it really give you? Enough to matter? That's what we'll look at in this course. We'll also discuss various reasons for saving your money and go over some good ways to do that.

Now that you know why saving is important and some of the basics for how savings accounts work, let's talk strategies for actually saving your money! In this course, we'll talk about various ways to add to your savings, as well as discuss spending diets and budgeting. We'll cover determining essential, could-be-improved, and unnecessary expenses. And lastly, we'll talk about strategies for analyzing your expenses.

You've opened a savings account, adjusted your budget, and been saving diligently toward your goals. What's the next step in your savings strategy? Getting the biggest bang for your buck. In this course, we talk about various ways to maximize your savings through investments. We cover retirement accounts like 401(k)s and Roth and traditional IRAs, saving for educational expenses with a 529 plan, and other investment account options.