Savings Corner

DECEMBER 24, 2023

Images by Getty Images; Illustration by Issiah Davis/Bankrate The average savings account rate is a benchmark for the overall interest-rate environment, but it’s not a rate you should settle for. Rather, aim for an annual percentage yield (APY) many times the national average, such as those offered by high-yield savings accounts.

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Savings Corner

DECEMBER 24, 2023

Instead, they are deposited into a savings account, and you make payments on your balance for the duration of the loan. A credit card is also not a good choice for major expenses, especially because you could accrue substantial interest if you don’t pay the balance in full at the end of each billing cycle.

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Prairie Eco-Thrifter

MAY 29, 2013

For those who prefer to pay with cash and avoid the credit card debt cycle altogether, building a solid credit history and high FICO score can be a challenge – but it doesn’t have to be. For one person, a low score might be due to late payments or collection accounts. Consider opening an account at a local credit union.

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