Putting money into a savings account to earn interest used to make sense, when interest rates paid a reasonable amount. Now-a-days, it only makes sense to use these accounts as places to store money until used for other purposes (up to the protected amount allowed by the FDIC). Many large banks (mostly in Europe and Asia) are starting to charge negative interest rates to hold the money, so account holders have to decide whether the risk of investing costs more than the cost of keeping the money in a bank.
Putting money into a savings account to earn interest used to make sense, when interest rates paid a reasonable amount. Now-a-days, it only makes sense to use these accounts as places to store money until used for other purposes (up to the protected amount allowed by the FDIC). Many large banks (mostly in Europe and Asia) are starting to charge negative interest rates to hold the money, so account holders have to decide whether the risk of investing costs more than the cost of keeping the money in a bank.