Where to Keep your Emergency Fund: Differences between Savings Account and Money Market



Where should you keep your emergency funds? http://www.takeasmartstep.com/where-to-put-your-emergency-funds/ Where to keep your emergency funds: savings account, money market account or money market fund. Explores the differences between each type and what they are good for. Click the link above to get a download comparing each account. More information on the basics of emergency funds: http://youtu.be/MHerq2qqLtE Twitter - http://www.twitter.com/smartstep Facebook - http://www.facebook.com/smartstepinc Instagram - http://www.instagram.com/atravillian Pinterest - http://www.pinterest.com/atravillian/

Comments

  1. What online bank do you bank with? Please?
  2. can u go over how mutual funds are taxed? lets say someone wants to use a vanguard money market account invested in an S&P 500 index to save money for a home purchase 5 to 10 yrs from now. so when i want to take out all the money at the 10 yr mark, can you go over all the fees associated with that transaction? Or point me to the resources where i can answer the question for myself. thanks in advance!
  3. Thanks for your video it was informative.
  4. Thank you for breaking down the differences in the MMA types.
  5. Great video. Thanks
  6. I have a couple questions.

    How much money should I have in my personal emergency fund? I heard somewhere it should be enough for 15 months...if that's true. Does this include my total overhead for the month at my business as well?
    Seems like a silly question. The problem is I run my business as well so if I was man down for 15 months I'd want that money too.

    I guess it's just hard for me to separate business and personal

    I guess the business and myself should both have separate emergency funds

    What planet are other people living on where it is possible to save that much? Is my last question
  7. There are no differences between SA and MMA, because MMA is a type of SA :)
  8. I have a couple of questions for you that you might be able to anwser for me.
    I'm planing to save money for emergency but also a long term investment to be transfer into a retirement fund as well. My saving will be at a local Credit Union.  
    Question 1:
    Which savings account is best for emergency funding?
    Question 2: 
    Is interest earn pre-tax (tax taken out) before it's paid to the account holder?
    Thanks.
  9. Thank @dargay just remember that it is the money market account at the banks that are FDIC insured and not the money market mutual funds at investment firms! 
  10. Appreciate this informative video. I didn't know that money market accounts were also FDIC insured.
  11. Thanks for the advice!


Additional Information:

Visibility: 14555

Duration: 8m 55s

Rating: 75