The Motley Fool

APRIL 16, 2024

Image source: Getty Images Identity theft and hacked accounts aren't just credit card issues. They can happen with bank accounts, too. Here's what you need to do the second you realize someone has stolen money from your checking or savings account. The key word here is "usually."

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The Motley Fool

MAY 9, 2024

Image source: Getty Images Many people keep their savings in a bank account that earns interest. With savings accounts paying up to 5%, is there any benefit to keeping your extra money in a CD instead of a savings account? I also use a high-yield savings account so I can easily access my money when needed.

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The Motley Fool

MAY 16, 2024

Image source: The Motley Fool/Upsplash After years of near-zero interest rates on bank savings accounts, Americans are getting more savvy with their cash. According to FDIC data, the national average savings account is paying only 0.46% interest as of April 15, 2024. Opening a money market account can be a great move for your savings.

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The Motley Fool

MAY 17, 2024

From 401(k) plans to 403(b) plans, there is a long list of retirement savings accounts you can potentially tap. If you can, use this one powerful retirement savings account My favorite retirement savings account is a Roth 401(k). But there's one in particular that I believe can be the best option for many people.

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The Motley Fool

APRIL 29, 2024

Image source: Getty Images Checking accounts are designed for managing money. Paying your bills, transferring money to savings and retirement accounts -- things like that. And there are also those who see a large balance in their checking accounts as a form of financial security. Does anyone still use those?

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The Motley Fool

MAY 22, 2024

Image source: Getty Images Before you ask, yes, freelancers can open business checking accounts , even if they don't have an employer verification number. That said, freelancers aren't legally required to open a separate checking account designated for business expenses.

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The Motley Fool

MARCH 14, 2024

Image source: The Motley Fool/Upsplash Perhaps no deposit account has had such a massive resurgence over the last year as certificates of deposit (CDs). In fact, for some people, a money market account might be the better option. Many of today's best money market accounts have APYs that are on par with the best CDs. Here's why.

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The Motley Fool

FEBRUARY 26, 2024

Unless you pay for a family plan meant to be shared, there may be restrictions on how you use and share your account with others. Hulu recently alerted users that it would crack down on account sharing. More : Our picks for the best credit cards Subscribers will also be responsible for any account usage outside of their household.

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The Motley Fool

MAY 27, 2024

Image source: Getty Images A savings account is your best option for housing your emergency fund -- money you might need for unexpected expenses, like unplanned home repairs. But a savings account might not always be the right account in all situations. Here are three reasons why it could pay to close yours. The reason?

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The Motley Fool

APRIL 17, 2024

Image source: The Motley Fool/Upsplash It is a good thing to have money in a savings account. If you have short-term goals and will need to access your money soon, a savings account can also be a good place for it, since you won't risk losing any of it. Here's what could happen if you end up with an overfunded savings account.

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The Motley Fool

APRIL 25, 2024

But sometimes, it doesn't pay to keep money in a savings account. With that in mind, here are some reasons to take money out of your savings account and put it elsewhere. You don't need it for a year or two The nice thing about keeping your money in a savings account is that you can access it at any time without worry.

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The Motley Fool

MAY 28, 2024

Image source: Getty Images This question might make many small business owners squirm: Are you still doing your accounting, invoicing, and other bookkeeping tasks with manual spreadsheets? But most small business owners should consider getting accounting software. You can probably benefit from accounting software, too.

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The Motley Fool

MAY 22, 2024

With that in mind, here are a few accounting challenges your business might face -- and how to manage them. It's a good idea to engage the services of an accounting professional or firm who can handle all tax-related matters for your company. An accountant can help make certain you're able to maximize those, too.

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The Motley Fool

APRIL 24, 2024

Fixed vs. variable interest I'm moving money out of a high-yield savings account because it has a variable interest rate and into certificate of deposits (CDs) because they have a fixed rate. High-interest savings accounts almost always carry a variable interest rate. Earning money for doing nothing is one of my secret fantasies.

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The Motley Fool

MAY 5, 2024

Should you open a CD, buy stocks, or put it in a retirement savings account like an IRA? All of these questions can feel paralyzing, which can lead people to make one big mistake: leaving their cash in a zero-interest bank account. Let's look at a few reasons why opening one of the best savings accounts can improve your life.

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The Motley Fool

MARCH 10, 2024

Image source: Getty Images Many Americans use checking accounts to manage their money. When things are going well for you financially, you could find yourself with more and more money sitting in your checking account. It's exciting to see a big balance when you log into your bank account. You could do that about once a month.

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The Motley Fool

APRIL 7, 2024

Image source: The Motley Fool/Upsplash If you invest your money in a taxable brokerage account , you'll get complete flexibility with it. You can contribute as much to your account as you want each year, and you can cash out investments whenever you choose without risking a penalty. The same holds true for a traditional 401(k) plan.

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The Motley Fool

FEBRUARY 19, 2024

Image source: Getty Images Having a savings account with money in it is really personal finance 101. But it isn't as simple as just chucking some money into the account and forgetting about it. According to the FDIC, the average savings account APY ( annual percentage yield , or how much you'll earn in a year) is just 0.47%.

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The Motley Fool

JANUARY 1, 2024

One of the first things you'll need to do is decide which retirement account(s) you want to use. This is free money your employer gives you for contributing to your retirement account. for every dollar you put into your retirement account, up to a certain percentage of your income. Save up for this in a savings account instead.

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The Motley Fool

MAY 17, 2024

Image source: Getty Images Opening a new bank account has never been simpler, with online and mobile applications putting it at your fingertips. The ease of opening new accounts, coupled with generous bank offers and higher APYs, might make you wonder how many accounts you should reasonably maintain.

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The Motley Fool

MARCH 27, 2024

By opening these accounts for your kids early on, you're not just saving for their financial future , but potentially unlocking the door to millionaire status. So, let's dive into the types of accounts that can make a huge difference. UTMA account A Uniform Transfers to Minors Act (UTMA) account is another fantastic tool.

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The Motley Fool

MAY 23, 2024

When I had to take $12,000 out of my savings account last year for home repairs, I was grateful I had the money, but I also cried a little bit. But earlier this month, I took a huge amount of cash out of my savings account for one big reason. And I expect savings account rates to fall as well. True story.

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The Motley Fool

MAY 29, 2024

One crucial step you don't want to overlook is rolling over your retirement account. Here's a step-by-step guide to rolling over your retirement account when you switch jobs. Understanding your options When you leave a job, you have four primary options for your retirement account: Leave the money in your old employer's plan.

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The Motley Fool

APRIL 7, 2024

Image source: The Motley Fool/Upsplash Bank accounts are one of the safest places to store money. As long as your bank has FDIC insurance , your deposits are insured up to $250,000 per account holder. The account and unpaid balance must be with the same bank for the right to offset to be legal.

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The Motley Fool

MAY 24, 2024

Image source: The Motley Fool/Unsplash If you've managed to scrape together a five-figure savings account balance, pat yourself on the back. You might wonder if $10,000 is too much to keep in a savings account. Is it safe to keep $10,000 in a savings account? Is a savings account the best home for your $10,000?

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The Motley Fool

MAY 28, 2024

One bright spot in this development is the fact that certificates of deposit (CDs) , money market, and savings accounts are all paying higher rates than we've seen in a long time. If you've been dragging your feet on opening a high-yield savings account (HYSA), now is a great time to do it. Here's why. year over year.

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The Motley Fool

MAY 24, 2024

Image source: Getty Images Your partner wants to open a new bank account with a different bank, but you like your old one best. Should you close your old account? Keeping two bank accounts open gives you flexibility and security. Read on for a more in-depth dive into the pros and cons of owning two bank accounts.

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The Motley Fool

APRIL 12, 2024

Image source: Upsplash/The Motley Fool Deciding where to put your money is very important because there are different kinds of accounts that make sense for specific situations. For most people, a savings account and a brokerage account are two options that you'll have to decide between at some point in your life. companies).

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The Motley Fool

MARCH 8, 2024

Unfortunately, once you have an emergency, a good amount of that money you worked so hard to put into your savings account could end up being used to cover the surprise costs. As soon as your emergency account balance is back where it should be, you can start up again. That's not a problem since that's what the money is there for.

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The Motley Fool

APRIL 30, 2024

Image source: Getty Images Savings account rates have gone up quite a bit over the last two years. Some of the top high-yield savings accounts are currently offering APYs of over 5%, and there's no risk involved. Believe it or not, it's possible to keep too much money in a savings account. That won't last forever, though.

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The Motley Fool

MAY 23, 2024

Now that the Federal Reserve appears unlikely to cut interest rates in the immediate future, it remains a good time to open a high-yield savings account. Savers have more options for how to earn a return on their cash, whether it's certificates of deposit (CDs) or high-yield savings accounts. Treasuries and other government bonds.

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The Motley Fool

APRIL 15, 2024

Image source: The Motley Fool/Upsplash Your brokerage account , for the most part, is not an account you want loaded with cash. If you want access to cash for emergency expenses and near-term financial goals, then a savings account is your best bet. But keeping a small amount of cash in your brokerage account isn't a bad idea.

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The Motley Fool

MAY 8, 2024

Even so, CDs won't make sense for everybody -- particularly as some high-yield savings accounts are also paying extremely tempting APYs. When choosing between a CD and a savings account, think about what you plan to do with that money. In contrast, most savings accounts will let you withdraw cash when you need it.

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The Motley Fool

MAY 28, 2024

Image source: The Motley Fool/Upsplash I write a lot about bank accounts here at The Ascent. You might expect that I settle for nothing less than the highest annual percentage yields (APYs) across all my accounts -- but you'd be wrong. In fact, I have a big bank savings account that pays only 0.01% on my saved cash.

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The Motley Fool

MAY 10, 2024

Image source: Upsplash/The Motley Fool Do you ever get the feeling that every bank is offering a new account bonus? Whether it's a checking account or savings account, many banks and credit unions are now promising to give you cash if you…give them your cash. Now the best savings accounts are paying 5.00% APY (or more).

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The Motley Fool

NOVEMBER 25, 2023

Considering the amount of money involved, you might wonder if an investment account is a good place for your emergency fund. Instead of having that money sitting around in a bank account, you could invest and grow it. Your emergency fund should never go in an investment account. Here's why: Your money will be safe and insured.

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The Motley Fool

FEBRUARY 6, 2024

Image source: Getty Images If you are opening a brokerage account , there are a few key facts you should understand first. Bonus offer: unlock best-in-class perks with this brokerage account Read more: best online stock brokers for beginners 1. Since you have a bigger account balance, you can earn even more going forward.

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