Way to Save #70: Don't Use Passbook Savings Accounts

These accounts are old-fashioned and pay very little interest. You’re much better off with your bank’s money market account. You’ll earn more interest, your money will be just as safe, and you’ll still be able to get to it at any time. For a little more interest with just a tiny bit more risk, consider money market mutual funds. These aren’t federally insured like bank money markets, but they’re normally plenty safe.

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