You may keep hearing that interest rates are dropping – but what does that mean, really? Which interest rates? Who decides that? How does that affect me?
It can get pretty confusing to anyone who isn’t an economics major. But that’s why we’re here to help you understand what it all means.
There’s lots of talk in the world of personal finance about how to best manage a savings account. You might read up on financial experts who recommend keeping three to six months’ worth of living expenses in your savings account, or maybe you’ve seen a tip about socking away enough money to cover larger expenses. Either way, there’s lots of discussion about the ideal amount of money to keep in a savings account.
