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Average Savings Account Interest Rate For December 2023

Savings Corner

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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Do the Rich Use Debt Differently?

Prairie Eco-Thrifter

When I was a mainframe computer programmer and project manager, we used a relational database product from IBM called DB2. Many have tried, via surveys, to define what it means to be rich – either in annual income or in net worth. Poor people use debt to buy things that make rich people richer.”

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Net Worth Defined: What Is My Net Worth?

Savings Corner

Find your net worth by using our net worth calculator. For example, your home would count toward your net worth if you’re willing to use it for a home equity line of credit or sell it should the need arise. If you’re using your home as an asset, its mortgage counts as a liability as well. Want us to do it for you?

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Start Saving Early for Retirement: Tips for Young People Just Starting Out

Prairie Eco-Thrifter

This article looks at the reasons an early start to retirement saving is so vital and why so many people just don’t get it. In a recent US survey of 1,153 retirees and workers, the results showed that nearly half (43%) had retirement savings of under $10,000, excluding their pension and home.

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Why Save Money in a Low Interest Rate Environment?

Prairie Eco-Thrifter

Because we only have a week to show results, and because savings account interest rates have been near zero each year since camps started, I have routinely given the jar 50% interest. Trepidation about having the grand-kids open a savings account. Both are now old enough to open a bank savings account.

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Tax & Investment Planning Resources at E*TRADE’s Online Tax and Education Centers

Family Balance Sheet

When you’re informed, you’ll be able to make better decisions when it comes to tax-advantaged investments, like retirement, health savings accounts, and educational savings accounts. So with tax season in full swing and April 15th just around the corner, E*TRADE would like to help you make better decisions.

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How to Build your Emergency Fund

Family Balance Sheet

Life suddenly changed for most of us in March 2020 and this past year of the pandemic has reinforced how important an emergency fund is. If you’re able, maybe use some of your stimulous money to put towards building an emergency fund. It was a very scary time for us. We had enough to get us through one more month.