Saving money is more important than ever, and many people are looking for ways to get a good return on their investment without putting themselves at a high risk of losing their money. It is for this reason and others that many people choose to put their money in money market accounts. With a money market, investors get much of the same conveniences of a savings account but will wind up earning a higher interest rate.

For those who are serious about investing to prepare for their future, money market accounts may not be the only type of investment they choose, but they are a good place to start. Many years ago an ordinary saving account would earn a few percent points of interest making them sufficient for many people who wanted to set aside money for the future or for a rainy day. However, today interest is extremely low on these accounts and will not earn much more than keeping money in the mattress.

With money market accounts, interest rates paid are often comparable to the old savings accounts. Some money market investments are rooted in mutual funds and stocks, but are diversified making them a safer investment choice. With money market accounts, investors also have better access to their accounts and can get at their money quicker than stocks if they need it.

Because interest is still not the best, money market accounts can be combined with other investments in order to yield the best returns. For example, and investor may want to save money in a money market account until they have a certain amount and then put that amount into a Certificate of Deposit, or if they are confident in the market, they may even want to purchase a bit of stock. By having the money market as a base they will always have access to at least some of their money in the case of an emergency or other big expense.

In addition to making one’s money grow, money market accounts are also good investments because it establishes a habit of saving which is good for one’s credit. When people have good credit they are able to get better interest rates on various purchases they might make. These purchases can be everyday items, or a car or home. They can also put money into a money market account when they buy something like furniture using a “pay no interest for a year” offer. By putting the payments into a money market, investors will actually earn money on their purchases.

Money market accounts don’t look highly lucrative, but little things add up. A money market account is a good place to start.