this post was submitted on 24 Jun 2024
14 points (100.0% liked)

Life Pro Tips

2600 readers
1 users here now

Tips that improve your life in one way or another.

founded 2 years ago
MODERATORS
 

Starting from payday, I daily move some money to a piggy bank, which helps for some short term requirements.

Any other short term saving ideas? long term also?

you are viewing a single comment's thread
view the rest of the comments
[–] scytale@lemm.ee 5 points 4 months ago

A high yield savings account is good for short term savings. Instead of barely earning anything on a regular savings account, you can earn anywhere from 4% to 6% in interest just for putting money there. It has all the standard protections of a regular account (i.e. FDIC insured) so there’s nothing much to lose.