A money market savings account, popularly known in its short form – MMA, is a type of savings account which earns a higher amount of interest when compared to basic and ordinary savings accounts. How does interest work with a money market savings account? The interest in an MMA is compounded either on a daily, weekly or monthly basis.

The benefits of opening a savings account are one too many. Listed below are some of the reasons why you must open one soon. Future: The foundation for a sound financial plan is to have a healthy savings account. A person can accumulate a large sum of money over an extended period and achieve success in all financial plans.

Health insurance is one kind of insurance policy that specifically covers the insured’s surgery, hospitalization, and specific medical expenses as per the terms of the policy. Depending on the terms agreed upon, the insurance agency may directly pay the hospital the predetermined percentage of totals costs, with the policyholder being required to pay the rest.

On our monthly or yearly budgets, most of us allocate funds for the purchase of a health insurance policy. We know for sure that how much time and energy we spend on being physically fit, there would be some occasions when we might need reliable and trustworthy medical advice and treatment.

Offsetting the costs of dental treatments tremendously, are dental insurances. By paying a monthly premium, a part or the full expense incurred for dental procedures are covered by dental insurance policies. The normal scope of dental expenditure from insurance companies could sometimes leave you with a disparity in the coverage, thus necessitating the need to pay from your savings for the oral care you need.

While credit cards let you spend over and above your income, checking accounts tend to keep you under a tight leash when it comes to managing your finances. This because whenever you use your checking account to make any purchases or pay any bills, money is debited from the account.

The decision to purchase a used car could save you a lot of money as compared to buying a brand-new model. Used cars are available in every brand and model. If you have a budget to stick to and want to purchase a new ride, the best is to opt for a used car.

A certificate of deposit (CD) is offered by financial institutions. It is like a savings account that pays a certain interest rate on an amount of money. Generally, institutions offer several time periods for the same ranging from 3 to 60 months. Interest rates go higher when you choose a longer time period.