The Truth About HYSAs
THE LOWDOWN ON HYSAS
HYSAs are basically regular savings accounts but with a higher yield... so the money inside is working for you! They're the PERFECT place to keep your emergency fund & money for shorter-term savings goals.
I also love them because they're separate from your regular checking account so you won't be tempted to spend the money inside. There's no reason not to open one.... T-T-T-TODAY, JUNIOR!
Choosing the Right HYSA
Not all HYSAs are equal...my fav has:
- A Competitive Interest Rate: We look for between 4-5%!
- No Fees: There's no account minimum and it's free to open and there are no monthly fees! You shouldn't be charged for this account, sweetie.
- FDIC-Insurance: The money you deposit is insured in the unlikely event of a bank failure.
OKAY SORRY, I WILL STOP GATEKEEPING!
& Once You Set it Up...
- Create Buckets for Short Term Goals: You can have different HYSAs for different goals. Emergency fund- duh. But I also have one for Mystery's emergency fund, travel, future apartment decor, botox etc.
- Set Savings Goals: Set specific goals, automate your deposits monthly and watch your money grow towards them.
- Watch Your Money Grow & Compound!
I am so excited for you! My friend Megan went to JAPAN using the interest from her HYSA so literally, these accounts can truly pay you out. Set one up today!
Sending you love & light & the highest of yield!
