@c_buildingquietwealth: Instead of putting your paycheck in your checking account, do THIS instead! A high-yield savings account or HYSA is like a checking account on ster^%ds. Instead of losing money to inflation, you’ll be making money. I personally use SoFi, but some people also use their brokerage account’s money management cash account as their HYSA. I personally don’t do this because money market accounts like SPAXX (Fidelity) or VMFXX (Vanguard) charge expense ratios on money sitting in those accounts. But you do whatever is best for you! No matter which place you choose, make sure your paycheck isn’t just going into your checking account where it’s losing you money! #PersonalFinance #financialliteracy #TikTokLearningCampaign #LearnOnTikTok
May I ask how you are getting 4% with Sofi on your Hysa? I have been using them 3 years and it used to be over 4 but they’ve dropped down over the years and as of today I only make 3.30% on my hysa account.
2026-01-28 02:32:10
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daaaabears7 :
SGOV has a higher yield and there’s little to no state and local taxes
2026-01-26 03:54:53
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bellarosa :
When the bank like Sofi and Amex are not brick and mortar I get a little leary putting all my cash in. I transfer from main bank to different hys and brokerage accounts
2026-01-25 23:23:38
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wildmoonchild :
There’s a limit to how much you can withdraw from a savings account
2026-01-28 20:27:06
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johnj789156 :
The challenge is there are restrictions on most savings accounts that limit transfers out per month. That’s why this strategy may not work for most people who operate from their checking account
2026-01-28 12:51:03
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Root Development LLC :
Is there a good rate high yield savings for businesses money?
2026-03-17 11:46:58
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RealLifewithGrace :
Do I have to pay taxes on that?
2026-01-27 04:30:29
4
Heywhoa123 :
How are u getting 4%? I’m getting 3.3%
2026-03-02 02:15:40
2
Stacey_Sunshine ☀️ :
Is there a restriction on how many withdrawals a month you can do on the account that you use?
2026-01-24 23:28:34
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milanpickett :
They shared helpful information with me..
2026-01-25 04:20:19
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scarface._3 :
im trying out Sgov? anyone have any info on this?
2026-01-25 01:51:19
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Money Map Navigator™ :
Love it👌
2026-02-26 02:58:30
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calmdownU :
But can you write checks from it?
2026-01-26 04:56:33
3
linzlovespink :
How do you use it for monthly expenses?
2026-01-25 05:34:33
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velcronoise :
You talk a little bit about how often and where you do research to get the best rates?