Savings Account

-A savings account is a type of bank account that stores and saves money.

-The average interest rate for a savings account ranges from .01-1%.

-There is little to no risk to a savings account because of FDIC insured banks.

-Benefits to savings accounts include low risk, quick access to money in case of an emergency, and the ability to leave money in the account for an indefinite amount of time.

-Savings accounts are a great way to teach kids the value of saving and investing their money.

-To open a savings account, you go to a bank and open one with a teller.

-I chose to invest my money in a savings account because in case of an emergency, I can easily access the money and it's generally safe if you go through an FDIC insured bank.

I chose to invest $15,000 in a savings account because it's safe and in a cinch, I can easily recover any money I invested.

$15,000