Get better interest on your savings
The point of socking away money in a savings account is to earn even more money in interest. That’s known as the annual percentage yield, or APY. With APYs at traditional banks hovering around 0.09%, you’re earning a measly dollar on a $1,000 balance.
You could earn more than 20 times that amount by moving your money to a high-yield savings account at a low-cost online bank. Most are free to open, and APYs are closer to 2%.
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