Dinero Teens: Money Markets & Savings Certificates: Grown-Up Tools You Can Use Now
(And Why Your Future Self Will Thank You)
You already know that saving money is a smart move—but where you keep that money matters, too. If you’re ready to go beyond a basic savings account, here are two next-level tools you should know about: money market accounts and savings certificates.
What’s a Money Market Account?
Think of a money market account (MMA) as a savings account… but better. It usually pays a higher interest rate, which means your money grows faster over time.
Some MMAs have minimum balance requirements, so they’re best for when you’re ready to put a chunk of money aside and let it grow—without completely locking it up.
What’s a Savings Certificate?
A savings certificate (also called a CD or share certificate) is kind of like making a deal with your money: you agree to leave it untouched for a set period of time, and in return, the credit union pays you even more interest.
These accounts are perfect for money you don’t need right away—like savings for college, a car, or even your first apartment. Our Milestone Certificate helps you reach your savings goals step by step. As your balance grows and reaches new “milestones,” your rate automatically increases.
It’s an ideal option if you don’t have a large sum to start with but want to stay committed to your savings goals while earning great rates.
Why Start Now?
Because the earlier you start saving smart, the more money you’ll have when it really counts. Whether it’s for college expenses, travel, a new laptop, or building a financial safety net, putting your money in the right place now helps you:
- Grow your savings faster
- Build strong financial habits
- Get a head start on adulting
You don’t need to be rich to take advantage of money markets or savings certificates. Even a few hundred dollars can make a big difference—and the longer you let it grow, the better.
Advancial can help you set up both of these account types. Just visit your local branch or reach out to a Member Service Representative to get started!
