Online Savings Accounts - High Rate CD Accounts | Kidssavingsaccount.info » savings

Best Savings Account for Kids | Online, High Rate, and Linked to Local

High Return Savings Account — Wed, 09 Sep 2009 14:30:56 +0000

People frequently ask me what is the best savings account for kids and I figured at this point I may as well write a post about it. I like to talk and write alot about teaching home finance to kids and adults and the basic workings of moving money around efficiently using online savings accounts are really good low risk ways to teach all the skills necessary for bigger topics later. Topics common to most people wanting to live the American dream might include how to prepare your finances to buy yor first home, or how to manage credit cards and such. In truth in order to learn my methods you need to learn to walk before you can run. In this post we start with a little walking. Do Online Banks Offer the Best Savings Account for Kids? I believe the best savings account for kids is an online account linked back to a local savings account. I think it is important very early on to educate children about the differences between rates of return and the usefulness of both types of banks (local and online). Both types of saving and loan banks serve a purpose for families and [...]

Best Savings Account for Kids | Online, High Rate, and Linked to Local is a post from: Online Savings Accounts - High Rate CD Accounts | Kidssavingsaccount.info

Best Online Savings Account | High Interest Rate, Stability, Service

High Return Savings Account — Sun, 23 Aug 2009 19:39:46 +0000

Your best online savings account is going to have to be reliable – as your savings account online should be a second line of emergency liquidity after your checking account and linked local savings account. You expect to receive a higher interest rate with an online savings account and rightly so – but you should always have it in the back of your head that your savings still need to be accessible in dire times. What factors might enter in your decision to take less than the highest yield available? Is the bank a member of the FDIC? If not, skip it Did the bank or its parent company receive TARP money in the bailout? - If so your funds could be temporarily unavailable should the bank come under distress again – FDIC or not! Is the bank owned and operated in the United States under U.S. Law? - If not your bank and accounts may be subject to laws and restrictions of other jurisdictions Does the bank or its parent operate other much riskier lines of business? - If so failures of those business lines could potentially impact YOUR funds availability Bank failures aren’t supposed to happen that often, [...]

Best Online Savings Account | High Interest Rate, Stability, Service is a post from: Online Savings Accounts - High Rate CD Accounts | Kidssavingsaccount.info