Is Your Bank Keeping Too Much of Your Money?
You probably already know that you should have an emergency fund—three to six months of expenses saved in a place you can access it quickly and easily if needed, like a checking or savings account.
But what you might not know is that, beyond your emergency fund, a savings account is one of the worst places to keep—and grow—your money. The average savings account interest rate of the five largest U.S. banks this year was 0.08%—less than one-tenth of one percent!
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