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Saving money is important, but not all savings accounts offer the same benefits. For example, a savings account at your local bank will pay minimal interest, resulting in a few dollars a year, but a high yield savings account can help you reach your financial goals faster. How can HYSAs pay so much? Here’s how they work.
Read MoreGood news: more young adults are improving their financial health. According to CNN’s report on millennial money habits, nearly a quarter of people aged 24 - 41 have more than $100,000 in savings, up from 16% in 2018. The younger generation is more concerned about their finances: tracking expenses, regularly checking account balances, and paying credit card bills in full each month — as 75% pursue a comfortable retirement.
Read MoreMany people save money as a second thought. When they get paid the money goes to bills, expenses, food, and a bunch of other random things. The only time they saving money is when there is money left over. With this backwards approach there is never enough money to save. Once deposits are made into a savings account automatically and on a regular basis, you don‘t have to think about it and the money is deposited before to going to any bills and expenses. It doesn’t matter if you have $5, $20, or $100, saving automatically will guarantee money is saved every time you get paid.
Read MoreUnexpected things happen all the time and when those things cost, it can be very scary. You have to scramble to figure out what to do and how you can rearrange your life to fix this crisis. The stress from all of this can be unbearable. Here's what could happen if you don't have an emergency fund
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