My Savings Account Interest Rate Went Up, but I'm Not Putting More in It. Here's Why

·3 min read
My Savings Account Interest Rate Went Up, but I'm Not Putting More in It. Here's Why

Like most people, I have some money in a savings account. Although I am happy that my interest rate went up on my high-yield savings account, it only increased to 0.75% APY. Since I am not earning a lot on the money that is invested, all of the dollars in my savings account are currently losing a lot of buying power -- and that will remain true even with my new higher rate.

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