The other day I talked with a woman who shared with me how she made a whopping 18 cents on her savings account for the year.
She had her money in a standard bank savings account and knew not to expect much in interest on it, but when she saw the actual interest amount on her bank 1099 form, she said, “Brittney, I have to move this so I can leverage my money more efficiently.”
If you are like most people, chances are you have a typical checking and savings account at your local bank. And chances are, these accounts are probably all you have money going into outside of a 401k or IRA.
Putting cash in a savings account to act as a cushion for emergencies is a very wise thing to do. However, just because your money is acting as a cash cushion doesn’t mean you can’t leverage where it’s held to earn as much interest as possible.
Here are three things you need to know about leveraging your bank accounts to earn more interest.
If you are serious about improving your financial life, then schedule your complimentary Discovery Session with me today. http://www.financiallywisewomen.com/work-with-me/
The call is fun, and you will walk away with more options about how to reach your financial goals.
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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial adviser prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.