Check In To Money Markets!
I always thought money market accounts were kind of a waste of my time - and money, and that my money could possibly be working harder for me in some other sort of fund or investment, but I still needed the liquidity of something like a money market - something I could “cash out on” fast if I needed to, or something that would be minimally painful to get my money out when I needed it.
Well, I was wrong about money markets. My Paypal money market fund, of all things, is performing pretty darn well for being a relatively low interest yielding fund.
It’s up to almost 5% interest earned right now, and that is not half bad for an account that would just be basically “sitting there” doing nothing and accumulating no interest virtually if it were in a regular savings bank account or a checking account.
If you’re interested in putting your money in something that yields a little more interest build up than a traditional savings or checking account, and you need your money to be available for withdrawal quickly, I recommend you look into a money market account - maybe try Paypal or Sharebuilder, the two that I have my money in. They are both performing to my pleasant surprise better than I thought they would!
