How Safe Are High Yield Savings Accounts? When you see interest rates of 4% or 5% on high yield savings accounts, a little voice in your head might ask: What’s the catch? We’re taught that higher returns usually mean higher…
You’ve been doing some research on where to park your savings, and two options keep coming up: high yield savings accounts and money market accounts. They sound somewhat alike, don’t they? Both protect your money and provide higher interest rates…
Are you wondering how do banks Make Money From High Yield Savings Accounts? You’re earning 4% or 5% on your high yield savings account and feeling pretty good about it. But then a thought crosses your mind: if the bank…
Pros and Cons of Opening a High Yield Savings Account: Your friend just told you she’s earning over $200 a year in interest on her savings account. Meanwhile, you’re looking at your own statement and seeing maybe $15 for the…
How Interest Is Calculated on High Yield Savings Accounts? You’ve probably seen those attractive interest rates advertised by online banks, 4%, 4.7%, sometimes even higher. But have you ever wondered how banks actually figure out how much money to add…
High Yield Savings Account vs Traditional Savings Account: Ever looked at your bank statement and noticed the interest earned section shows just pennies? You’re not alone. Most people don’t realize their savings could be working much harder for them. The…
You earn your money through hard work. Don’t you want your money to work as hard as you do? Without realizing it, the majority of individuals keep their money in standard savings accounts, losing out on hundreds or even thousands…