Opening a savings account is the easiest way for people to save and earn money at the same time. It is the simplest form of investment. There are different types of savings accounts which vary according to your type of needs.

If you've got some extra money scattered on various accounts, it is difficult to resist the temptation to use it for a vacation, a new car, or home renovation. But let’s say you were able to do all that and decided to save your money instead. Now, comes the misleadingly-simplistic question, where do you stash it? There are two basic options: the certificate of deposit (CD) and the money market account.