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4 reasons to open a high-yield savings account while interest rates are down

4 reasons to open a high-yield savings account while interest rates are down
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High-yield savings accounts are still the best place to store money you need in the short term.




Despite interest rate cuts over the last few months, a high-yield savings account will still help you earn 20 times or more on your money without risking it in the market and help you save for specific goals.




It's always a good time to build a habit of saving, and when interest rates inevitably go back up, you'll earn even more.




As long as you choose an account with no fees, low minimum balance requirements, and an APY that's higher than a traditional savings or checking account, there are no downsides.




Read more personal finance coverage.



High-yield savings doesn't go out of style.
Despite the Federal Reserve's recent interest rate cuts, many high-yield savings accounts are still a good deal.
There's no better place to store money you need in the short term where your money is safe, accessible, and has a shot at beating inflation.
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