Don’t lose track of your money
We are not referring to physical places you can put and lose your money but to places that do not match your goals, like investments, retirement funds, and the like. For instance, according to Tydlaska, stockpiling emergency funds in your checking account is not a good idea. There are far better options for your money, such as high-yield savings accounts.
You can find banks that offer high-yield savings accounts at 1.5% to 2% APY, according to Devon Klumb, CFP, and financial planner at RhineVest in Cincinnati, Ohio. Saving your money into such accounts can help you earn more interest. Want More Money? Then Slash These 9 Expenses ASAP.