You’re ready to open a new savings account – a seemingly insignificant decision – after all, most savings accounts are similar, right? Not quite. Where you take out a savings account is actually a major decision. Yes, interest rates may be comparable, but some banks and credit unions do provide higher than average rates. Have you taken fees into consideration? It’s possible to get hit with a fee for making too many withdrawals during a month. Don’t just head to your closest bank. Do your research first.

A money market account is similar to a savings account, except it may also offer a debit card or check-writing capability to facilitate withdrawals. The ability to use money in the account by writing checks and using a debit card makes a money market account particularly effective for your emergency fund or as a place to hold funds in between investments. Like an online savings account, online money market accounts typically earn higher yields safely. What’s more, most are offered by banks and credit unions that are insured up to $250,000 by the FDIC or NCUA. Savings and money market accounts fall under Federal Reserve Board Regulation D, which limits withdrawals to six per month. These accounts are not designed for frequent transactions like paying bills, but they are a great place to put your money and earn more interest than you would in a typical checking account.

Unless you are already familiar with CDs, understanding a little about how they work might help you choose the CD that has the best CD rates for you. A CD is a deposit instrument which requires you to commit to keeping your money in the account for a specified period of time. In return, the bank will typically agree to pay you a fixed interest rate for that length of time. Some banks vary their CD interest rates depending on how much you deposit. In such cases, you have to meet a minimum balance requirement in order to qualify for the advertised rate. A reward for committing your money for a specified period of time is that CDs generally pay higher interest rates than savings accounts or money market accounts. In most cases, the longer you commit to a CD, the higher the interest rate will be.

The Federal Reserve has raised interest rates seven times since December of 2015. How do these interest rate increases affect consumers? In theory, rising rates would hurt those who are borrowers and benefit those who are savers. In reality, this is only half true — borrowers have felt the pain, but relatively few savers have seen much of a benefit. Instead, the clear winner from recent interest rate increases has been the banking industry. An interest rate is the price a lender charges a borrower for the temporary use of the lender’s money. That’s why rising interest rates are bad for borrowers and good for lenders — borrowers have to pay more, while lenders earn more.

When it comes to handling your personal finances, you often have to “do the math”. The paper-and-pencil method can be avoided these days by using online calculators to help you make good financial decisions. We’ve assembled the calculators most consumers need, whether they’re just starting out or they’re heading toward the third stage of life – retirement. So don’t be intimidated by the math involved in managing your money. Use our easy calculators to help you make the best choices for your financial life. On each of the calculators, you can input your values using the slider or by typing in your exact number.

Investing well can help you build wealth, create a powerful income stream, and fund your retirement – but to achieve those goals as planned, without adding undue risk, you need the right strategy, the best investments, and time. Poor investment choices, on the other hand, lead to underwhelming results. And it matters. Essentially, investors can’t waste time – or money – when it comes to their financial goals, which likely include: Emergency fund, home down payment, education expenses, grow wealth, retirement savings and income. What are the best investments, who offers the best solutions, and where can you find someone who will work with you one on one to help design your overall investment strategy?