High Yield Savings Accounts You Must Have (3 Best Savings Account)

High Yield Savings Accounts You Must Have | 3 Best Savings Accounts in 2022
Let's discuss the high yield savings accounts you must have in 2022. These are the 3 best high yield savings accounts that give you up to 6.17% apy. The average bank account typically pays between 0.01% to 0.05% which means that it would take you upwards of 7200 years to double your money when using the rule of 72 to calculate how long to double your money.

These online high yield savings accounts you must have pay upwards of 100X the normal savings account so you are able to earn more money in a shorter amount of time

TIME STAMPS
00:00 Intro
2:39 #1 Blue Federal Credit Union
3:15 #2 Netspend
4:27 #3 Digital Federal Credit Union
4:44 My Thoughts and What You Should Do
7 ACCOUNTS THAT PAY UP TO 9% APY https://youtu.be/G1dqy8oM0Ig
✅ Visit My Website ✅
www.shaunsurgener.com
✅ Subscribe To My Channel For More Great Tips ✅
http://www.youtube.com/shaunsurgener?sub_confirmation=1
✅ Schedule Free 30 Min Coaching Consultation ✅
https://calendly.com/shaunsurgenercoaching
👉 FOLLOW ME ON SOCIAL
IG: shaunsurgener
FB: shaun surgener
✅ Links ✅
📈Free Stocks With RobinHood 🤝 https://join.robinhood.com/shauns824
✅ VIDS ✅
How I Saved 100k In 4 Years Without A Job (LOW INCOME)
https://www.youtube.com/watch?v=wVbTD9BujnQ

5 Hacks to Save Money On Low Income (I Saved 9K With 19K Income)
https://www.youtube.com/watch?v=A0Mp0mgoB3M

I Lived On $5 A Day Food Budget For One Year In Los Angeles (How To Live On $5 A Day)
https://www.youtube.com/watch?v=mGdoSSQhS4E

How Much You Should Spend By EACH AGE | Retire Fast 2020
https://www.youtube.com/watch?v=NwJsN0hfmfI

How Much You Should You Save By EVERY AGE
https://www.youtube.com/watch?v=udllNWIFFHo&t=14s
High yield savings accounts and bank accounts are a great way of earning extra money that you have sitting in the bank. If you are bank at Chase Bank, Wells Fargo, CITI Bank, Bank of America, etc you are only earning 0.01% apy. Using the rule of 72 that interest rate would take 7200 years to double your money. With this interest rate you are losing money with inflation which averages around 2-4 percent per year.
Here are some great online high yield savings accounts that will earn you more money and help you beat inflation as they pay up to 6.17% apy.
#1. BLUE FEDERAL CREDIT UNION
This high yield savings account pay 5% apy and has no monthly fee. Keep in mind that you will need at least $10 to get started. $5 will go towards the blue federal foundation and the other $5 will go to your account. You also can only earn 5% apy on the first $1k you deposit.
#2 NETSPEND
This is known as the prepaid debit card. The money on your prepaid debit card is put into a high yield savings account that earns 5% apy. Some of the downfalls are that you have to buy your debit cards and can only have up to 5 cards and $1k on each one. You also pay a $5.95 inactivity for every 90+ days you don't use this card. One way of getting around this is using your Ally bank account to deposit $1 into each card and then cycle the money around to each one. Deposits count for activity.
#3. DIGITAL FEDERAL CREDIT UNION
This high yield bank account pays 6.17% with no monthly fees or minimum balance required. You are capped at $1k earning your 6.17%.
MY THOUGHTS
High yield bank accounts and savings accounts are a great way to earn more interest on your money than the standard 0.01 to 0.05% interest most banks pay you. 5-6% also helps you beat inflation. Using these methods you could have $7k earning you upwards of 5-6%. The problem though is that you are capped at a low amount.
Instead of focusing your time on high yield accounts, focus more on investing your money into the markets such as an SP500 index fund which has average 10% per year. There is no cap on how much money you can invest and this is the best way of creating wealth for yourself.
Only use high interest bank accounts for emergency funds and to save up for large purchases.

❎ I am not a CPA, attorney, insurance, or financial advisor and the information in these videos are simply for entertainment purposes only and are not be considered as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Shaun MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Shaun's videos. If you need any advice regarding any of the topics mentioned in the videos, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer/etc. or financial advisor.

Some links may provide financial compensation

For general questions or inquiries please instagram DM @shaunsurgener link above. For program questions or business/collab inquiries:
📧 email: shaunsurgenercoaching@gmail.com

Видео High Yield Savings Accounts You Must Have (3 Best Savings Account) канала Shaun Surgener