The Federal Reserve has been increasing interest rates as the economy has been getting stronger. Yet the rates on your savings account at the local brick and mortar bank is still holding steady at a fraction of a percentage. You go online and see online savings and money market accounts offering rates over 150 times higher.
You start thinking about all the extra money you could be earning from your hard-earned cash, but should you go with a savings account or a money market account? Which is better? What’s the difference between the two accounts?