When looking for a savings account, it's like shopping for the best pair of shoes.

You need to find the right fit! 👟

Today we’ll go over 5 core factors to consider when picking a savings account.

1️⃣ Interest rates.

It’s how much your money will grow over time. 💸📈

2️⃣ Fees.

Some banks charge for account maintenance or keeping your account running 😯

3️⃣ Withdrawal limits.

Can you get to your money easily? Or is it locked away like a princess in a tower? 👸🔐

4️⃣ Minimum balance requirements.

Some accounts need a certain amount of money, just like a club's entry fee. 💰🚪

5️⃣ Different types of accounts

Regular savings accounts are simple, but money market or CD accounts can offer higher interest. 🔄

The best savings account for you depends on your goals.

Are you saving for a car, a house, or just a rainy day? 🚗🏡☔

And remember, always look for the FDIC sign.

It’s like a superhero shield, protecting your money up to $250K

Feel free to come back to this lesson to review the 5️⃣ factors to check before picking a savings account 👍