HYSA Interest earned YTD in 2023: $2315.89 That's averaging over $200/month (that's almost my entire Dining Out budget for the month)! THIS is the power of having your savings in a #HYSA. Even if interest rates aren't at their highest (like they are now), you still earn more than a regular bank. A HYSA (High Yield Savings Account) is an account [usually] offered by online banks that pay out significantly more in interest compared to savings accounts at regular banks. You can literally earn 10x more for having your money sit in one of these accounts than in your checking or a regular savings account. I personally use Synchrony and American Express Bank, but Ally, SoFi, Marcus Goldman Sachs and Discover are all great options as well. Hesitant? Whenever I have a client who's hesitant to move their money to a HYSA, I challenge them to start with a small amount...then compare the interest they earn in their normal savings to what they earned with the HYSA. That usually does the trick! As long as the bank where your HYSA is located is FDIC-insured, your money is just as safe. Trust me, you won't regret making this move! I'm so glad I did over 10 years ago! #savingsaccounts #citygirlsavings #womenwithmoney #moneymoves #moneycoach #moneycoachforwomen #personalfinanceforwomen
