Back to Saving Strategies
Lesson 13 6 minute lesson Interactive
High-Yield Savings Basics
Understand interest, access, account rules, and what to compare before choosing a savings account.
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Lesson goal
Evaluate a savings account using more than its advertised rate.
Three ideas to keep
1
Compare annual percentage yield
2
Check fees and balance requirements
3
Confirm how quickly you can access the money
Try it
Make the call
Account A has a higher rate but a monthly fee. Account B has a slightly lower rate and no fee. What should you compare?
Knowledge check
Lock it in
What does APY help describe?
Finish both activities