Many investors use savings accounts to earn interest on money that they don’t need right away. However, sometimes they want to use their money to make a payment. Unfortunately, you cannot write checks ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Khadija Khartit is a strategy, investment, and funding expert, and an educator of fintech ...

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The median savings account balance for all families in the U.S. was $8,000 in 2022. Generally, higher-income earners and older individuals save more than younger ones. Some experts suggest three to ...