That’s really up to you and what you’re looking for! There are a few differences that you may want to be aware of.
First, rates can be higher with an MMA. Access to your money is also typically a bit easier with an MMA since they often allow you to write checks and withdraw from ATMs.2 (But remember, this easy access could tempt you to spend more than you would with a savings account). And finally, transaction limits can vary across accounts. Check with your bank so you know the specifics of their savings accounts or MMA offerings.
Starting to save money now can help set you up for a successful financial future. It can also give you wiggle room for unexpected expenses—good or bad—like a surprise family trip to Italy or hospital bills from a broken leg.
Before deciding if this plan could help you achieve your savings goals, weigh money market account risks with the benefits. Finding your right savings fit might take a bit of research and a deeper look at your finances, but it can be worth it when you decide on the right place for your cash.