A new study just dropped, and sis... we need to talk. According to recent data from Vanguard, 70% of women feel confident about saving money. But here is the catch: nearly half of those women are keeping their savings in accounts earning less than 3% interest. That means inflation is literally eating your savings while your bank does nothing.
This is not a you problem. This is a knowledge problem. Nobody taught us where to actually PUT the money once we save it. The system is designed to keep you confused and your money stagnant. But today, we are changing that. Here are the three moves you need to make to ensure your money is working as hard as you do.
Move 1: Open a High Yield Savings Account (HYSA)
Your regular bank is not on your side. A basic savings account earns you around 0.01% to 0.5% APY. Meanwhile, inflation is running at 3% or more. Every year you leave money in a basic savings account, you are losing purchasing power. A High Yield Savings Account (HYSA) earns 4% to 5% APY. That is 10x to 50x more than a regular savings account. It has the same FDIC protection and the same access to your money. It is just actually working for you.
If you do not have one yet, I highly recommend Wealthfront. They make it incredibly easy to start. Here is your referral link to join me at Wealthfront! When you sign up, we both can earn a +0.75% APY boost, a 0.50% investing deposit match, or both. This offer is for a limited time only, so do not sleep on it!
Move 2: Separate Your Money With Intention
Stop keeping everything in one account. When your money sits in one big pile, it is too easy to spend it on things you did not plan for. Give every dollar a job. Keep your sinking funds and emergency fund in your new High Yield Savings Account, and use physical cash envelopes for your daily variable spending. When your money has a specific job, it stops disappearing. This is the Baddie system.
Move 3: Automate the Boring Part
Set up an automatic transfer to your HYSA on payday. Even $25 a week is $1,300 a year earning 4%+ interest. You do not need to remember to save. Set it, forget it, and watch it grow. You do not need more money to start building wealth; you just need a better system.
You Were Never Bad With Money
You were just never taught where to put it. Now you know. Move your money out of that dead savings account and into an account that pays you. Grab that Wealthfront APY boost, set up your automation, and budget like a baddie.
Open a High Yield Savings Account (HYSA):Your regular bank is not on your side. A basic savings account earns you around 0.01% to 0.5% APY. Meanwhile, inflation is running at 3% or more. Every year you leave money in a basic savings account, you are losing purchasing power. A High Yield Savings Account (HYSA) earns 4% to 5% APY. That is 10x to 50x more than a regular savings account. It has the same FDIC protection and the same access to your money. It is just actually working for you.
If you do not have one yet, I highly recommend Wealthfront. They make it incredibly easy to start. Here is your referral link to join me at Wealthfront! When you sign up, we both can earn a +0.75% APY boost, a 0.50% investing deposit match, or both. This offer is for a limited time only, so do not sleep on it!
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Separate Your Money With Intention:
Stop keeping everything in one account. When your money sits in one big pile, it is too easy to spend it on things you did not plan for. Give every dollar a job. Keep your sinking funds and emergency fund in your new High Yield Savings Account, and use physical cash envelopes for your daily variable spending. When your money has a specific job, it stops disappearing. This is the Baddie system.
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Automate the Boring Part:
Set up an automatic transfer to your HYSA on payday. Even $25 a week is $1,300 a year earning 4%+ interest. You do not need to remember to save. Set it, forget it, and watch it grow. You do not need more money to start building wealth; you just need a better system.
Conclusion:
You were never bad with money. You were just never taught where to put it. Now you know. Move your money out of that dead savings account and into an account that pays you. Grab that Wealthfront APY boost, set up your automation, and budget like a baddie.