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Category: Savings Accounts

Liquidity Matters: Will You Have Money to Face an Emergency?

Some people consider their home-equity line of credit (HELOC) or credit cards to be their emergency fund. But when it comes to being prepared for the financial equivalent of a rainy day, there's nothing like personal
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Finding a Better Savings Rate

The money-market fund (MMF), one of the most popular places to keep savings in recent decades, has now fallen out of favor. Such funds are sometimes confused with money-market accounts (MMAs), but they differ from MMAs in
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What if the Bank Breaks? How to Be Sure Your Savings Are Safe

In almost any good-sized city, many of the largest buildings are likely to be bank buildings. Being housed in an impressive edifice sends a not-too-subtle message: "Our bank is solid and successful. We're here to last."
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Why Are So Many People Switching to Credit Unions?

Membership in credit unions is booming. According to the Credit Union National Association (CUNA), more new members were added in the first quarter of this year than in all of 2010. For the first time, credit union assets
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Annual Percentage What? Understanding Savings Rates

The only thing worse than the meager rates being paid to savers these days is the confusing language used to define those rates. The financial industry has stirred up a stew of acronyms, abbreviations, and indecipherable
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Is it Time to Take Your Banking Online? – Part 3

In the Parable of the Talents (Matt. 25:14-30), the servant who buried his master's money was scolded for not earning a return: "You could have at least put my money in the bank, so that I could have earned interest on
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Join the (Lending) Club

In June of 2008, SMI ran an article on peer-to-peer (P2P) lending, describing a process whereby individual borrowers and lenders could each get a better deal by cutting out the middle-man (i.e., the bank). It was a new —
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