@the.finance.engineer: Stop using a regular savings account. The largest banks in the US are also the worst banks to keep your cash with. Not only do they charge B.S. fees, but the interest rate they pay on their savings accounts are only 0.01% APY. For example, let’s say you have $10,000 with Bank of America, Chase of Wells Fargo. After 1 year, you’ll only earn $1, or 8 cents per month. Keeping that cash in a high yield savings with an online bank could get you around $380, or $30 per month! The main difference is where you keep your cash 🤯. These banks are FDIC insured just like the big banks and there are ATMs you can use if you need cash (although, it’s 2025, why are we still using cash? 😅). #finance #PersonalFinance #money #savingsaccount #highyieldsavings

Imran | The Finance Engineer

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Friday 29 August 2025 03:16:35 GMT