#12: Sacco vs Money Market Funds: Which is Better for You?

Sacco vs Money Market Funds? This is probably a never-ending debate you will hear or see around. But which is better for you? A Sacco account can help you save for both short and long-term goals, thanks to the ability to borrow against your savings. If you have guarantors, you can borrow as much as 3 to 5 times your savings, depending on your Sacco’s rules. Plus, the funds are not easily accessible. This is an excellent way to buy assets, start a business and grow wealth. With Money Market Funds, you are able to access your funds within a short period, with most institutions wiring the funds within 72 working hours. This, plus the high returns compared to fixed deposit accounts, MMFs are ideal for short-term financial goals. So, which is better for you?

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