Plain-English definitions for the terms you'll encounter on your financial journey.
Money Market Account: This is a type of savings account offered by banks that usually pays a higher interest rate than a standard savings account. It provides you with easy access to your money, often with limited check-writing or debit card features, making it a safe place to park cash while earning a little extra interest.
A type of savings account that usually earns higher interest and requires a higher minimum balance than regular savings.