What Is a Savings Account and How Does It Work?

A savings account is a bank or credit union account designed to store your money while earning a modest interest. It’s a safe and convenient way to save for short-term goals or emergencies. Key Features of a Savings Account 1. Interest Earnings Savings accounts pay interest, allowing your money to grow slightly over time. While […]
What Are Savings? How to Calculate Your Savings Rate 2025

Savings is the money left after paying all your expenses from your income. It’s the extra cash that isn’t spent on bills, groceries, or other needs. This money is often set aside for future use or emergencies. Why Are Savings Important? Savings help you prepare for the future. They can be used for emergencies, big […]