GLOSSARY · BUDGETING, SPENDING & SAVING

High-yield savings account

A savings account, usually at an online bank or credit union, that pays a rate well above the national average for savings. At an insured institution it is covered by deposit insurance like any other deposit account. The rate is variable and can change at any time.

Also called: HYSA, online savings account, high-interest savings account

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HYSA vs T-bill vs CD vs MMF after tax →After federal and state tax, where should my cash sit?Emergency fund calculator →How many months of expenses do I have saved, and how many do I need?

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CHAPTER · SAVINGS FOUNDATIONS & EMERGENCY FUNDS · FOUNDATIONSBuilding, Protecting and Refilling Your Emergency Fund CHAPTER · SAVINGS FOUNDATIONS & EMERGENCY FUNDS · FOUNDATIONSWhere to Keep Your Savings

SOURCES

National Rates and Rate Caps. Federal Deposit Insurance Corporation.

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