Expert offers tips on alternatives to storing money in savings account

CHICAGO (WLS) -- A Chicago entrepreneur is dedicated to increase financial literacy to build generational wealth.

Ross Mac offered some alternatives to putting money in something other than a savings account.

Mac outlined the benefits of investing your money as opposed to storing it in a savings or checking account.

Mac also offered advice on prepping and paying for college and ways to raise last-minute from college.

Millions of high school graduates will head to college in the fall and navigating the college admissions process can be tricky and time-consuming.

Mac is hosting a Maconomics Wealth Summit this weekend, with a yacht party at Navy Pier on Friday, a summit Saturday at Whitney Young Magnet High School and the Maconomics Foundation Celebrity Basketball Classic on Sunday.

For more information and tickets, click here.