How to Choose: Savings vs Money Market vs CD

man with money and savings

No matter what the economy is doing, it’s always a good idea to have money put away for a rainy day, or for big expenses coming down the road. But not enough consumers do this.

According to a survey, only 44% of U.S. adults had enough money saved to afford a $1,000 emergency. That leaves them vulnerable to unexpected expenses, such as car or home repairs, or medical needs.

One key to saving money is to just begin, however you can. Do you know the differences between money markets, certificates of deposit and savings accounts? Find out which is best for you depending on your needs and how much you can put away.

Take a look at the infographic below to find out the differences between money market, savings and CDs.

Cadence can help you begin saving with certificates of deposit, money markets and savings accounts. Contact us to learn more.

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