1. Security: Funds in a savings account are typically insured by the government up to a certain limit, providing a safe place to keep your money.
2. Interest Earnings: Savings accounts typically earn interest on the balance, helping your money grow over time.
3. Liquid Assets: Savings accounts provide easy access to your funds whenever needed, allowing for quick withdrawals and transfers.
4. Emergency Fund: Savings accounts are a good place to stash away money for unexpected expenses or emergencies.
5. Financial Goals: Savings accounts can help you save towards specific financial goals, such as a vacation, a down payment on a house, or retirement.
What is the benefit of a savings account? Select all that apply
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