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 What is a good amount of money to have in a savings account?
NOT including retirement plans and 401k plans. (just money to have for car breakdowns, appliances, lost time off work, etc.)...


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Additional Details
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Additional Details
Well, more detail, I have year til a graduate from a very reputable ...


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 I'm 50, put max in IRA yearly,40k in checking,should I put some $ elsewhere to make $. I make 40k a year.?
...



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To save the most money should i keep a piggy bank or open a savings account?
which will save me the most money?
                     
 




Steve
Rating
Open a savings account. ING Direct and emigrant Direct pay high interest rates


rocknrobin21
Well... unless you have a magic piggy banks that pays interest... you should open a savings account. :-)


scoopie110
Rating
I think you should open a account. It will help you save the most. If you have a Piggy bank you might want to take some money out of it because it will be in front of you. If its in the bank it will help you gain interest. Good luck.


pennykid
Rating
start a piggy bank. when you have saved enough, open a savings account. Piggy banks are great for spare change but they don't earn interest like a savings account would. I suggest both.


Christine4tw
Rating
A savings account. And to make a lot of money you could invest some of your money in a safe long term charles shawab account... It's close to the same thing as a savings account if you set it up right that way your money doesn't just sit there and become less due to time and inflation. :-)


Joshua G
Keep it in your Bank Account.


World Peace Now
Rating
Piggy bank will not earn interest.


cbagc2002
keeping it under the bed is the most effective


Ken
Rating
It really isn't the responsibility of the piggy bank or savings account to save money - it's your responsibility. If you have a relatively large sum of money, put it in a savings account.


d_geffre
Rating
It depends on how cool the piggy bank is.

Seriously though, it depends on if you will leave the money in the piggy bank or the savings account. If you don't touch it, but keep contributing, you are saving money either way, which is what you wanted to do. Bank is the obvious choice because of the interest, but some people thing the piggy bank is more satisfying because they can shake it and feel good about their saving money


Ridiculous
Rating
I would do both...put all of your extra change/money into the piggy bank for a few weeks then take it to the bank and put it in your account. (My husband and I do this-we have a change dish that we put all of our change in at the end of the day and about once a month we take it to the bank. It adds up very quickly!)


kalistrat
Rating
This question is better to be put this way: "When is the best time to be an investor?" The answer is: "It's always the best time." Invest your money into the market, because the savings account will not outperform the inflation.


Steve H
Neither. they are only places to hold money. YOU have to save the money. If you don't put it in, then you will still have nothing. If you are looking for long-term savings, you might want to explore mutual funds. Short term, money market funds will get you better rates (most of the time) than savings accounts. Obviously, your piggy bank will earn you nothing in intrest.


cwstufff
Rating
Do both
Transfer the money in the Piggy Bank to your bank account every few months.
Open a savings account that requires 90-days of notice before a withdrawal to avoid spontaneous withdrawals.


Jessica K
Rating
Open a savings account so your money can earn interest.


sappergirl
Rating
Open a money market account. That way you can make interest off your savings.


joshper85
Rating
savings account at ing bank
4.50% interest


mrb1017
A savings account because then you won't be tempted to go in and take a little bit out every now and then and savings accounts draw interest so you'll be earning money for having your money sit there which wouldn't happen in a piggy bank.


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