Does anyone else store extra money in savings?
I've been looking for options for money that I've socked away in my Savings Account. I was told after I've saved 3-6 months worth of income, any dollar more in my savings loses money. (yuck) I asked several of my friends the same question and they at least admitted to having the same problem!
So in case others have the same issue, here's what I found. Def not an exhaustive list but was enough for me to make a move.
CD -- super safe, makes 1-2%. Better than savings, although not by much. Penalty for taking your money out early so make sure you don't need the $$ anytime soon.
Earn Account -- supported by Treasury Department, makes 3%. I like the fact it supports local and women-led businesses. You determine when you want to take $$ out.
Ally Savings Account -- online bank that offers 1%. Can access your money without issue by transferring it to another account.
Good luck and let me know if you find other options!