As people get smarter about their savings, more banks are offering a high-yield savings option.
The money isn't invested, meaning there's no risk, and you can take it out earlier than you plan if you must, unlike with a CD. However, did you know that saving large sums in a checking account, or even a traditional savings account, isn't much better? It's more secure than your mattress, sure — but it's not growing. Checking accounts, and even traditional savings accounts offered by big banks, generally offer a fraction of a percent in interest, meaning over time, your cash is worth less as inflation marches on.
The only difference between regular and high-yield savings that matters is the one that earns you 20 times more on your money
melissamccarthy Feeling Nostalgic
1.5% p.a. is 20 times the savings account rate which is 75 bps? Why would a Bank offer differential rates on identical products? Doesn’t the regulator in your country step in when you take up these misspelling contracts in the garb of a business magazine?
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
Inside Careyes, Mexico's best-kept secret for high-end hippies - Business InsiderI spent 3 nights in a hidden resort in Mexico that's beloved by wealthy bohemians and has an invite-only festival comparable to Burning Man. It was almost too wild to believe. Can you imagine if you held a UV light to that sofa
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
I save money in a high-yield savings account like it's a 401(k) - Business InsiderMy high-yield savings account at Ally is currently earning 1.60% APY. By the end of 2019, I will have earned just over $125 in interest. Unless your funds are managed by Madoff’s ilk. And assuming it’s even possible to cut into yr paycheck while keeping lights & heat on. But OK.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
Enjoy complimentary access to Business Insider Prime - Sign up today with no obligationsWe saw a lot in 2019, including Amazon's tax scandal, WeWork's downfall and Bloomberg's toxic culture to name a few. Read all the details with free access to Business Insider Prime (BIPrime) for a limited time. BIPrime BIPrime You are great
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
Here's everything you'll want to read if you can't make up your mind about life insurance - Business InsiderIf you want to learn more about life insurance, figure out if it's for you, and get some tips on where to start, you've come to the right place.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
LionTree's Aryeh Bourkoff's 2019 reading and podcast list - Business InsiderThe list included titles from Blackstone CEO Steve Schwarzman and Disney chief Bob Iger, who each penned books on leadership lessons this year.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
10 things in tech you need to know today - Business InsiderGoogle and Apple booted a popular messaging app called ToTok, which was reportedly a UAE spy tool.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »