Money market accounts (MMAs) are like special bank accounts! They're a mix of savings and checking accounts. You can earn a little extra money on your savings, and easily use your money with a debit card or checks.
MMAs are usually safe because the government protects your money up to $250,000. It's like having a safety net for your savings. The interest you earn changes all the time.
- MMAs let you earn interest on your money.
- You can easily access your money.
- They're usually safe up to $250,000.
- Interest rates go up and down.
| Item | Fact |
|---|---|
| Average MMA Rate | 0.64% (but some are much higher!) |
| Highest MMA Rate | 5% or more (you have to look for them!) |
| Safety | Protected up to $250,000 |
