Have you heard of money market accounts (MMAs)? They're like special savings accounts where your money grows a little each year! They're a safe place to keep your money, kind of like a piggy bank but with extra benefits. Think of it as a place to save money for your future!
- MMAs offer better interest than regular savings accounts.
- You can use your money when needed, like for buying something you really want.
- Interest rates have changed a lot over time, going up and down.
- Many MMAs are insured, which means your money is safe.
| Fact | Number |
|---|---|
| Average MMA interest rate | 0.64% |
| Highest MMA interest rate | 4.51% |
| $10,000 earning at 4% APY after 1 year | $10,407.44 |
