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- Best and Worst Days To Buy Gas (11 8 23)
Best and Worst Days To Buy Gas (11 8 23)
Anthony Hazzard
November 08, 2023
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Still not capturing the best rates on your savings? We’ll make it easy by pointing you to six companies offering at least 5% APY later in this email.
💵 Today’s Top Stories
 | Trying to avoid sticker shock at the gas pump? This research shows the best and worst days to fill up or top off your gas tank. Read more. |
 | Be especially careful booking travel online. The scammers are out there, Clark says. Here are details on how to protect your wallet. Read more. |
 | This couple had nine months of income saved in their early 50s. Despite some setbacks, they were able to retire at 70 years old. Read more. |
 | For most, credit cards with annual fees are aspirational. Here are the best no-fee cards whether you want rewards, cash-back bonuses or low-interest offers. Read more. |
🏦 6 Banks Offering 5%+ APY on Savings
Still earning a paltry interest rate from your bank? Consider this a Public Service Announcement.
Rate hikes by the Federal Reserve have been brutal for borrowers. But they’ve also ushered in the best time for savers in many years.
If you haven’t shopped for a better savings account interest rate, now is the time.
“Friends don’t let friends put savings in a giant monster mega bank,” Clark says.
According to the Wall Street Journal, Americans lost $603 billion in the last eight years by keeping their savings at the largest banks that are notorious for paying much lower than market interest rates.
Bank of America and JP Morgan Chase are still paying 0.01% APY. So if you had the FDIC maximum of $250,000 in one of those accounts, you’d make $25 in interest annually.
And yet millions of Americans are keeping their savings at those institutions.
Clark says, “The average bank is paying less than half a percent. Just ripping off their customers left, right and center. And we’re letting them do it.”
Finding a high-yield savings account that offers at least 5% interest is now very possible. Here are a half-dozen institutions from our list of the best savings accounts offering at least 5% interest on your savings right now:
📊 Stat of the Day
💸 62%: The percentage of U.S. adults that say they’re living paycheck to paycheck according to a LendingClub report. A separate study found that 74% of Americans are stressed about finances.
💰️ Deal Alert: Today’s Top Deals
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🎙️ Podcast
Data shows 25% of American couples aren’t putting enough money into a 401(k) to pick up the company match. If this is the case in your financial life, Clark has a few tips to help you increase your retirement savings. Also, driving-related deaths are thankfully trending down. Clark explains why.
☎️ Need Money Help?
The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.
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