Reported about 15 hours ago
Many Americans are keeping too much money in their checking accounts, which can lead to losses from inflation and missed investment opportunities. With an average checking account interest rate of only 0.08% compared to a 2.9% annual inflation rate, money sitting idle loses purchasing power and presents an opportunity cost. Financial experts recommend investing in higher-yield securities while maintaining an emergency fund equivalent to three to six months of living expenses. Striking a balance between having sufficient cash for emergencies and investing wisely is key to long-term financial health.
Source: YAHOO