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Finally picked a high-yield savings account after months of looking
I was stuck between a local credit union and an online-only bank for my emergency fund. Went with the online one for the 4.5% APY, and setting up the automatic transfers was super easy. Anyone have tips for keeping track of savings goals with these accounts?
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sarah1983d ago
That 4.5% APY is great, and I just use a simple spreadsheet to track my goals (it's not fancy but it works).
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hannaho523d ago
Actually, that 4.5% isn't all that great when you look around. Plenty of other places offer more now. Spreadsheets are a huge pain to keep up with, too. You have to remember to update everything yourself. It's way too easy to make a simple mistake and mess up your numbers. A dedicated app does all the math for you automatically. Relying on a manual sheet seems like asking for trouble.
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abbyc333d ago
Why fix what isn't broken? I'm with @sarah198 on this. A spreadsheet is just fine if you keep it simple. You already did the hard part by picking the account and setting up the transfers. Now you just need a place to watch your progress. A basic sheet with your goal amount and your current balance is all you really need. It takes two minutes to update when you check your account.
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