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I keep my money in a high-yield savings account from CIT BankIf you know me at all, you know I talk incessantly about high-yield savings accounts. Your typical savings account earns you just 0.09% at your local bank — literal pennies. A high-yield savings account, on the other hand, can earn you up to 20 times more. The longer you wait to open up a high-yield savings account, the more money you lose. To make sure I'm on track to pay my quarterly taxes, I simply put aside 30-40% of my pay into my tax-designated savings account.

Organizations: Service, CIT Bank, CIT, IRS, Social Security, Medicare Locations: Wall, Silicon

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). I don't need cash often, though, so it's not enough to make me get a debit card. There are many debit card risks people fail to think about, and it may not be the best choice for you financially. I've never really needed a debit cardMy parents have never had a debit card (I know, right?!) Most places in the US take some form of card, which makes a debit card unnecessary most times.

Persons: they're, Insider's, —, I've, Chase, Chase —, Charlie, it's Organizations: Service, Chase, Apple, Google

I saved 25% of my take-home pay from my corporate job while I was building my own business on the side — and now I've saved $100,000. Priority-based spendingI always say that you don't have to stop spending money – you just need to stop spending money on things you don't value. Automating savingsOne thing I recommend to my clients is setting up a high-yield savings account. Once I had my high-yield savings set up, I made sure to schedule automatic payments moving money from my checking to my high-yield savings. Small increases add up over time, especially if you're putting them into a high-yield savings account or investing the earnings.

Persons: Read, Marie Kondo, Charlie Organizations: Service, CIT Bank Locations: Wall, Silicon, Seattle Seattle, Wells

I set a goal to save $100,000 by age 25, and at 24 years old I'm $90,000 of the way there. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThree years ago, I made a deal with myself: I wanted to have $100,000 saved when I'm 25. It's possible to achieve your first $100,000 — whether that's debt paid off, earned, saved, invested, or something else.

Persons: I've, —, they'd, Roth, you've, Tori Dunlap Organizations: Service, Roth IRA

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