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I didn't feel comfortable investing in the market, so I decided to open a high-yield savings account. High-yield savings accounts, like the name suggests, typically pay higher interest rates than traditional savings accounts. The interest rate on my high-yield savings account has dropped since I first opened my account. While most banks offering high-yield savings accounts are exclusively online, some have physical locations, like Citibank or HSBC. Ultimately, choosing the right high-interest savings account depends on your personal situation and what you want to get out of your account.
Persons: Marcus, Goldman Sachs, I'd, , There's, I've Organizations: Service, Federal Reserve, Citibank, HSBC
Why I chose a certified financial plannerA certified financial planner, or CFP, helps clients make sense of their money and establish long- and short-term financial goals. I found my certified financial planner, Jared, through my parents, but a quick Google search can yield plenty of options for those on the hunt. Why going to a financial planner was absolutely worth itIn total, I paid $300 for my CFP, which included two in-person sessions. Besides providing me with a complete financial plan, Jared was also available by phone or email if I had any lingering questions. If you're looking for ways to save more, or establish better spending habits, a financial planner is definitely for you.
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