Banking & Savings
Where to keep your money, the difference between banks and credit unions, how to actually earn interest on savings, and the four types of savings tools regular people should know.
About this course
This course is a sequence. Work through the lessons in order; each one builds on the last. You can skip around, but the order is intentional, and the math compounds in the order written.
Lessons in order.
Checking vs. savings: the right setup
Most people use these wrong. Here's the simple structure that maximizes your interest while keeping your daily money easy to access.
How a high-yield savings account pays you more
Why most checking accounts pay almost nothing, and how a high-yield savings account at the right place can pay you 20× to 100× more.
Money market account or fund: which is which
Same name, very different products. One is a bank account, one is an investment. Here's how to tell them apart.
Certificates of deposit (CDs): the predictable cousin
A CD is a savings account where you agree to lock the money up for a set time in exchange for a guaranteed rate. Useful in some situations, ignored in others.
How Treasury bills work, and what they pay
Short-term loans to the U.S. government, considered the safest dollar investment in the world. How they work and where to buy them.
How I-Bonds protect your savings from inflation
A government savings bond whose interest rate adjusts with inflation. Useful for medium-term savings, with some annoying restrictions.
Credit unions vs. banks: what's the difference?
Credit unions are nonprofits owned by their members. They often pay better rates and charge lower fees. Here's the trade-off.
How banks actually make money
Understanding the bank business model helps you understand why your savings rate is what it is, and why banks fight so hard for your checking account.
Emergency fund: the unsexy thing that saves you
Cash set aside for surprises is what keeps a job loss or medical bill from becoming a financial catastrophe. Build it before you invest aggressively.
Ready to start?
No signup, no email, no upsell. Free to read, always.