Have you got some money stashed away for a rainy day? If you’re like me, you may be sitting on some spare dollars you were gifted throughout the years. Maybe it’s acting as your Emergency Fund or maybe it’s just another account that came with your checking account. Do you know what the APY (annual percentage yield) on that savings account looks like? If you’re using your big bank’s savings account (like Wells Fargo, Bank of America, etc.), you’re likely seeing a percentage around .09. That’s not exactly providing you with some extra fun money. But what if I told you that you could get a lot more bang for your bucks with a high-yield savings account? On average these accounts pay you just under 2 percent interest on your money each year. After all, shouldn’t our money do some of the work for us?
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