Life Pro Tips

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LPT requests : Money savings (self.lifeprotips)

submitted 5 months ago by yewg85lcx to c/lifeprotips@lemmy.ml

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Starting from payday, I daily move some money to a piggy bank, which helps for some short term requirements.

Any other short term saving ideas? long term also?

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[–] scytale@lemm.ee 5 points 5 months ago

A high yield savings account is good for short term savings. Instead of barely earning anything on a regular savings account, you can earn anywhere from 4% to 6% in interest just for putting money there. It has all the standard protections of a regular account (i.e. FDIC insured) so there’s nothing much to lose.

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