Kumiko Love Instagram – When should you use a high-yield savings account?
If you want to save for a short to medium-term goal without the risk of investing, a HYSA is a good option!
For my emergency fund, I keep about 25% in my savings account at my credit union and the rest, 75%, in a high-yield savings account with Ally.
I do this because it would take up to 1-2 days to get my money from Ally, so I like to have the option of immediate cash from my credit union.
When searching for a high-yield savings account, here are the things you want to look for:
✔️ Easy access to your money
✔️ Competitive rates
✔️ No bank fees
✔️ Has FDIC insurance
I have heard great things about SoFi, CiTBank, and Capital One but have never used them personally.
Do you want to earn more on your savings? 😫 Let’s talk solutions! Have you looked into high-yield savings accounts as an option? Share your thoughts and questions below!
#BoostYourSavings #FinancialWellness #GrowYourMoney #SavingsGoals #HighYieldSavings #SmartSavings #thebudgetmom | Posted on 10/Apr/2024 00:30:58