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High-Yield Business Savings Accounts Options and Benefits
Manage episode 386792051 series 3448465
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Instead of letting your money languish in your checking account, consider opening a High-Yield Savings Account (HYSA) since interest rates are higher than in years past.
In this episode, I expand upon the many advantages of High-Yield Savings Accounts and why this low-risk investment option is worth pursuing.
In this episode, you’ll also hear:
- Flexibility of high-yield savings account
- Benefits of HYSA for business owners
- Minimal maintenance and fees of HYSA
Must-listen moments:
[00:00:35] When you go and start searching for these high-yield savings accounts, make sure that they're a member of the FDIC, and don't forget that they are only insured up to $250,000 per account.
[00:02:31] If you invest it in one of these savings accounts, the risk is very low, yet you still get a guaranteed return. It is really good, and it protects your business’ capital.
[00:02:53] You could have short-term goals and projects that you know you need to put money aside for, this is a great place to hold that capital until you need it.
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