Monday, August 8, 2022

High-Yield Savings Accounts vs. Savings (What’s the difference?) #shorts

Okay so what's the difference between a high-yieldsavings account and just a regular savings account? Well in the financial world the word yieldbasically means yearly interest so if you have high yearly interest and it's a savingsaccount then obviously you're going to get paid the most in interest in that type of anaccount versus just a regular savings account right now the rates for high yield accounts areabout half a percent which is at least something but just a couple years ago they were abouttwo to three percent so honestly if you do have money parked in a savings account let'ssay it's for a car or a house you've got a lot of cash and you're not earning any interestthen you might as well move that money into a high-yield savings account because at leastyou'll make something and it's also insured.

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