Good to Know: Money Market Accouts

by hedy on June 5, 2010

I ended up taking the money from my CD which had matured, and putting it in a money market account.  The account is with a local bank whose interest rate was close to the national high-yield rates.  I have to admit that I’ve never had a money market account before, mainly due to the fact that when I was younger I used CD’s to keep my money out of hand, and then since then I have been a fan of high-yield savings accounts.

A Money Market account is an account which are FDIC insured, and earn interest just like a savings account.  As the interest rate on my money market was very good (all things being relative), I opened one.  I am able to make withdrawls from my money market account, up to six per month.  I have a debit card and checks to make this easier.

I look forward to seeing how this works out for me.
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Moving my money, again…
October 30, 2010 at 4:55 pm

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