Making this one change to your savings routine could result in big returns over the long run.
Saving is an important part of just about any financial plan. No matter what age you are or how much money you earn, putting some aside for the future is crucial if you want to be financially secure later in life without working well into your retirement years. And, putting money into a high-yield savings account is a great start, but there is more to do if you want to maximize the amount of money in your savings.You can start saving today by opening a high-yield savings account.
If your situation changes and you can afford to put more money into your account, be sure to take the steps to increase your automatic deposit.Shop online for a high-yield savings account right away. How much money will this earn you?To show how much more money you can save by putting on an automatic deposit, let's do some quick math and compare the results.First, for the examples below we will assume an initial deposit of $10,000. Second, we'll use a consistent interest rate of 4.
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