Money market accounts (MMAs) can be a great place to get the most out of the money that you've set aside for a rainy day.Financial institutions offer FDIC-insured MMAs to their clients, just like they offer regular checking or savings accounts. The benefit? MMAs tend to offer higher interest rates than other deposit accounts. Zero risk for your money and a higher rate makes an MMA a much better place to stash your rainy-day cash than a savings account.
Advice: When to Use Money Market Accounts
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.