High yield vs money market

high yield vs money market

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High Yield Savings Account vs. Money Market Mutual Fund
Money market accounts also tend to tie up more of your money, requiring higher minimum account balances than a high-yield savings account. While. On the other hand, when compared to high-yield savings accounts, money market accounts often have higher minimum balance requirements. The main difference is that a high-yield savings account is a bank account and a money market fund is an investment account.
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It may not come as a surprise that putting money away can help protect you from the unexpected and financial hardship. However, money market funds are considered very low-risk investments and may even have higher interest rates than high-yield savings accounts. By Marcos Cabello. It could be that the best answer of all is to go with a regular checking account and a high-yield savings account instead of either of the other accounts. Partner Links.