It seems like every major and online bank has a high rate savings account. How do you begin to compare? Is it even worth opening one when your bank or credit union already gives you an option of opening one?
Yes, it is. First of all the rates, you’re going to receive are mostly 8 to 10 times more than what your current bank or credit union is offering. It wouldn’t be a smart move to stick your hard earned cash in an account that’s paying under 1 percent because that’s likely what your bank or credit union is going to give you.
The rates don’t mean much if you’re just starting to save. If you do stick to your savings plan, you will start to see the benefits of a high rate and reap its rewards.
Smart saving includes searching for a great account to put your money in. There’s a great deal of accounts out there. I’d bet that it’s not at your current bank.
Go ahead and get started. Setting realistic goals goes a long way in making sure you reach them.
Get moving. There’s a lot of interest to be earned.