Page 2 - AAA Shelby County – AAA Now! – March/April 2018

AAA
TM
member services
Stay on target
with your savings goals.
Your next vacation, a home improvement, college tuition, or maybe just a rainy day. No matter what AAA Members are saving for, earning more is easy with a savings account from Discover Bank.
1.40% AS OF 2/7/18
Call 1.800.347.7056 | Visit AAA.com/Deposits | Invitation Code: CLUBPUB
Preferred rates on CD/IRA CD terms and money market accounts also available to AAA members.
1Annual Percentage Yield (APY). Applies to personal accounts only. Advertised Online Savings Account APY is accurate as of 2/7/18 and subject to change daily without notice. APY may change before or after the account is opened. Fees could reduce earnings on the account. There is no minimum deposit required to open the account.
2The APY for the Online Savings Account as of 2/7/18 is more than five times the national average APY for an interest-bearing savings account with a balance of $500 as reported by Informa Research Services, Inc as of 2/7/18. APYs are subject to change at any time. Although the information provided by Informa Research Services has been obtained from the various institutions, accuracy cannot be guaranteed.
© 2018 Discover Bank, Member FDIC
Discover Bank
ONLINE SAVINGS ACCOUNT
APY1
HIGH APY
over 5X the National Savings Average2
INTEREST COMPOUNDED DAILY for maximum earnings
FDIC INSURANCE
up to the maximum allowed by law
Rainy Day
vs. Emergency Funds:
Why They’re Different Yet Both Necessary
Even the best savings plan can
be interrupted when something unexpected occurs. Establishing rainy- day and emergency funds will allow you to handle unexpected expenses that come your way. But what’s the difference between the two, and why are both necessary?
A rainy-day fund is money set aside for when random inconveniences strike. Automotive repairs, broken appliances, and last-minute travel emergencies hit when you least expect it; it’s important that you’re able to cover these costs without dipping into your checking account. You should try to set aside $1,000 - $2,000 for minor, unexpected events such as these.
An emergency fund is money saved to cover expenses if you find yourself out of work for an extended period
of time. If you’re in-between jobs or
get sick and can’t work, this fund can be used to support you. Building up around 6 months’ worth of income is
a good rule of thumb, but you should save however much you feel is enough.
Whether illness strikes or your “check engine” light comes on, it’s important to ensure that you have enough money saved to tackle the issue. To learn more about AAA savings, money market and CD accounts by Discover, visit AAA. com/Deposits.
Discover Bank, Member FDIC
2
march/april 2018
Now!