10/22/2026
Everyone knows that saving money is important but how and where you save can make a difference, too. The following mistakes can be costly:
🏦 Keeping everything in one account: Different savings accounts are designed for different needs such as emergency savings, short-term goals, and long-term savings. Consider interest rates, account terms, insurance coverage, and how easily you can access your money.
📈 Leaving money in a low-earning account: Depending on your goals, a high-yield savings account, money market account, or CD may offer opportunities to earn more on your savings. Every dollar counts!
🎯 Choosing an account based only on the highest rate: The highest rate isn’t always the best fit. Consider how often you need access to your money, minimum balances, terms, and other account features.
📅 Never reviewing your savings strategy: Your financial goals can change over time. Take a look at your savings each year and make sure your accounts are still working for you.
Small adjustments can help you stay organized and make the most of the money you’re setting aside. Members Trust FCU can help you create a plan to reach your goals.
Where you invest your savings matters. Learn more about the best place to protect your savings while they grow by reading our full article linked below.