5 Reasons To Compare Easy Access Savings Accounts

Comparison shopping isn’t just a buzzword anymore — for consumers, it really is a way of life. There isn’t a single service that you can acquire that doesn’t improve based on comparison shopping. Car insurance? You could be paying a lot more than you think just by taking the first offer that you see. If you are looking for someone to come out and make improvements to your home, you will pay a lot more by hiring the first person that you find instead of making the contractors compete with each other. That’s something that tends to create a lot of problems down the line that can be avoided by shopping around. A lot of people feel that comparison shopping makes them appear cheap but that’s just not the case at all. It can really make all of the difference to find the ultimate deal. The money that you save can be funneled into another project that you have in mind, like saving for the future.

Speaking of saving for the future, you would do well to choose the best easy access savings accounts. There are five reasons to compare easy access savings accounts.

First and foremost, you will miss out on interest if you don’t. Interest in terms of savings accounts equals money every time. If you take the first offer that you’re given, you’re going to be missing out on a lot of interest over time. That could be the difference in when and how you make all of your financial goals happen.

The second reason to compare easy access savings accounts is that you never know when you’re going to find a bonus rate or another introductory offer. Banks want to gain your business for the long haul, so an attractive offer is the name of the game.

The third reason to go with comparing these accounts against each other is that you want to make sure that you really do have a high number of deposits and withdrawals, the maximum allowed under the law.

The fourth reason why you want to go comparison shopping when it comes to these accounts is that the rates are always changing. Getting complacent is also a good way to get sidetracked and end up missing your goals completely.

The final reason to compare easy access savings accounts is because you never know when you will want to connect other types of accounts to the savings account that you have. This is a good way to deepen banking relationships and open the door for new lending opportunities.

Good luck – you can choose the best easy access savings accounts!

In Defense of Traditional Savings Accounts at the Bank

If you’re just starting to read the financial circuit of news and information online, you have undoubtedly realized that there really is a lot of thins to check out and read about. One of the biggest things that get discussed in these circles is how to grow your money — definitely a hot button topic for a lot of people. Everyone has their own ideas of where to put their money, but if you’re not sure where to start and you’re dreadfully worried about where your money is going, here’s a place to stick it — in a traditional savings account.

Now, we know we’re going to immediately get some criticism for this, because we’re not suggesting some online brokerage that is supposed to give you the highest interest rate possible. Notice we did set some parameters — if you’re trying to preserve principal, then traditional savings account at the bank definitely allow you to do this.

Yes, the interest rate isn’t going to be the same as if you were to get into ETFs, or jump into the stock market headfirst. However, you will be preserving the money that you came into the game with, and that’s very important to some people. After all, do you really want to play with your child’s educational expense account, or the money that you’ve been saving so that you can make repairs to your home?

Traditional savings accounts are also good for short-term goals that really wouldn’t make sense to throw into a mutual fund — such as saving for Christmas or another time of the year where you know that you’re going to have to shell out a lot of money in a short period of time.

Like regular bank accounts, you should definitely look up interest rates online if you really have significant money that will be deposited. Interest rates are generally better if you have a lot of money that will be going into the account.

Another great reason to get a traditional savings account at a bank is if you’re trying to teach your children about the power of saving. It can be exciting to a child to be able to go into the bank and see their account statement. Many banks plan for this by having an account type specifically for minors — why not check it out for yourself today? When you really see the benefits, you will truly be glad that you looked into all of your options!