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Holly Hagans is a writer who enjoys writing on a number of different verticals. For more on investments, Money Hacker offers readers information on online investment resources.
People who had their money in regular investment accounts saw a decrease in their fortunes when the economy took a drastic downturn starting in late 2008. However, those [url=http://www.teatrodeoro.com/hollisterde.php]hollister deutschland[/url] with their money in liquid savings accounts, particularly high yield accounts, gained in the initial amount saved thanks in large part due to the interest paid on those accounts.
Having a savings account is vital to surviving tough times, because money in ordinary checking accounts is comparable to [url=http://www.jeremyparendt.com/Barbour-Paris.php]barbour pas cher soldes[/url] investing money in the stock market. When inflation levels rise, the money invested in stocks and bonds and the actual value of paper money decreases. Money kept in a savings account is protected against inflation and recessionary declines because the [url=http://www.skoda-witzke.de/woolrichoutlet.php]woolrich outlet[/url] deposits are safe, secure and federally insured.
A savings account is more than a way to gain a monthly yield on the money saved; it also creates a [url=http://www.rtnagel.com/airjordan.php]nike air jordan pas cher[/url] cushion for those in jeopardy of losing their jobs because it provides financial security. Financial experts usually recommend having a 3-6 month emergency fund saved.
Of course, there is no universal benchmark. If you don't have any discretionary income, the most reasonable approach to saving money is start by making regular contributions into your savings account each time that you receive a paycheck with an automatic payroll deduction option. The amount to directly deposit from your paycheck should be 10% of your gross monthly income.
When opening a new interest bearing savings account at this time with the economy still struggling to regain momentum, it made not be feasible to save 10%. If it's possible start with a smaller amount of 4-5 % and then increase the percentage when you can.
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Create real money saving opportunities by adopting some conventional frugal habits. Begin by cutting back on unnecessary items [url=http://www.burnabystorage.com/barbour.php]barbour milano outlet[/url] like the morning cup of coffee at your favorite breakfast spot, stop the newspaper if you have it delivered, or change to Sunday only delivery, slash your monthly entertainment bill by switching to basic cable and don't watch movies out instead use the movie rental kiosks to control spending. This could lead to an extra $20 dollars per week, which is a great place to start saving.
An online savings account represents the best return on deposits, such as the opportunity [url=http://posinet.jp/kissmark/kissbbs/kissbbs.cgi?]sex]barbour italia Coals2u Smoke[/url] to earn 5 times above the national average interest rate. Take advantage of the [url=http://www.marrakech-hotel.fr]hollister france[/url] competitive interest rates by opening a savings account online, usually you can fund the account immediately by linking it directly to your regular bank account.
Most online banking institutions are straightforward with no monthly fees and no minimum balance requirements. There are some online banks that allow customers to start saving with an initial deposit of $1.
The most [url=http://sea.scatv.ne.jp/~bodysaron/postmail/postmail.cgi]woolrich outlet Some Inexpens[/url] important aspect of opening a savings account whether online or in-person is that the money is liquid, which means that it's always available. In order to create an emergency fund or to build a personal savings nest egg, you must forget that the money is there. Don't access the funds in the account unless there's an actual emergency.
The main advantage to opening a savings account is to let the money grow by collecting daily [url=http://www.mxitcms.com/abercrombie/]abercrombie milano[/url] and monthly accrued interest.
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The Importance of Opening a Savings AccountArticle Summary: People who had their money in regular investment accounts saw a decrease in their fortunes when the economy took a drastic downturn starting in late 2008. [url=http://www.wiis.fr]louboutin[/url] However, those with their money in liquid savings accounts, particularly high yield accounts, gained [url=http://haolishop.com/bbs/viewthread.php?tid=969809&extra=page%3D1&frombbs=1]barbour outlet 7 Easy Metal Songs To Play On Guitar - written by Kyle Hoffman[/url] in the initial [url=http://www.davidhabchy.com]barbour sale[/url] amount saved thanks in large part due to the interest paid on those accounts.

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