Many people know the importance of having a savings account for emergency purposes. But how many people are actually saving on purpose for the future? If you are considering saving up money for long-term purposes, a money market account may be an ideal way to accomplish that goal.
Long-term savings goals can be for a variety of purposes. Many people save up to buy a home. Others may want to save their money in a money market account to save for a college fund for their kids. Either way, a low-risk money market account may be the best way to accomplish these goals. A money market account typically gives you access to your money without charging you fees for using the funds. You can earn interest on your money market account and put aside funds into your account with each paycheck. After a few deposits, you won’t even notice that money missing from your paycheck as the money market account continues to grow.
Choosing Aurora Bank money market accounts is a great way to reach your long-term savings goal. With easy access to your funds and penalty-free withdrawals for the first six each month, you will see yourself getting closer to your savings goals quickly.