Criticism about my emergency fund setup made me rethink everything

Honestly, I used to keep my emergency fund in a regular savings account earning like 0.01% interest. My buddy Mike at the shop told me I was basically burning money by not putting it in a high-yield account. After he showed me I was missing out on about $200 a year, I finally moved it to an online HYSA earning 4.5%. Has anyone else had to eat crow on a simple finance change like that?

3 comments

3 Comments

nancy8171mo ago

Mike got me too. I was losing about $150 a year before I switched. Now I sleep better knowing my cash is actually growing.

alicehernandez1mo ago

My neighbor Pete lost $200 a year on fees before he wised up.

kim_johnson511mo ago

That really adds up, doesn't it.