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By Staff Reporters
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Whether we’ve got a recession coming remains the biggest will they or won’t they story, but it looks like more Americans are starting to sock away cash just in case.
CITE: https://www.r2library.com/Resource/Title/0826102549
Data just released by the Department of Commerce puts the savings rate for December at 3.4%—the highest level in seven months and the biggest uptick from the previous month since July 2021 (November’s rate was 2.9%).
EMERGENCY FUND: https://medicalexecutivepost.com/2022/08/20/the-national-emergency-fund/
Could be that everyone’s just saving up for breakfast eggs and Ticketmaster concerts?
MD Emergency Funds: https://medicalexecutivepost.com/2007/12/05/emergency-funds/
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Filed under: "Advisors Only", Ethics, Investing, LifeStyle | Tagged: CASH, cash savings rate, Department Commerce, emergency funds, savings rate, ticketmaster |
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FDIC,
This is where high-yield savings accounts come in. You can shop around FDIC-insured banks for the best APY so that you can get your savings account to earn more money. The top accounts out there offer perks like no minimum balance, ATM access and interest rates that are often 13x the FDIC national average savings account.
CHET
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GS
Meanwhile, recently, investment banking giant Goldman Sachs announced it’s going to stop the practice of offering personal loans to consumers through its Marcus brand. This is part of the banking giant’s decision to cut back on consumer-facing products.
Al
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