I I wasn't going to say this on the show it's not even my it's not even my notes even talk about it but I be honest with you all I don't spend money on dating anymore I don't $450 a year $450 a year divide that the 12 that's $37 a month that your money just making you're not doing anything that's some of Y say oh that's not a whole lot of money B please $37 a month for for a lot of you will give you you know at least a half tank of gas that you didn't have to pay for I did this last year and some of these accounts had fees right um but all the accounts I'm going through today all five of them have no fees and no minimum balances that open up an account so there's no hidden costs or requirements to get an account I going to give you three just three quick reasons why you need to open one today so here is the honest fact of high savings what's going on family it's your boy Anthony Neil welcome back to the table and I want to start off today with simply saying this whether you are saving right saving for an emergency fund to get your 3 to six months um of your net pay inside of that or what about for a car or maybe for your first home you're about to jump into the real estate game hey summer is coming up I'm going on my summer vac my I'm turning 40 this year I'm super excited and I'm setting aside some money to spend on my summer vacation at the end of the day if we are going to make smart decisions with our money we need to be putting our money into a high yielded savings account H AKA a h YSA and here's the truth there are hundreds and I mean hundreds to even thousands of options out there but not all of these savings account have your best interest at heart so today on today's show I'm sharing the five best high Y savings account of 2024 and these accounts are ones that I absolutely trust and I can literally put my stamp of approval on them because I vetted all of them and check this out they will keep your money safe while earning you a substantial interest rate of 4.25% to 5% apy now I believe in practicing what I preach and so out of out of the five that I'm going to go through today that I'm going to present to you today I personally use two of them like personally have money sitting in an account and it's making me money right it's making me money but before we get into this I want to remind you to please subscribe C can you please subscribe and join this amazing Community we are almost at 800,000 community members right here on uh YouTube and then we we are massively growing on podcast and if you're watching us on Instagram wow we've had 24,000 new followers new community members on the Instagram platform within a matter of two weeks we are growing massively and I would love to get to a million on YouTube get to a million on our podcast and get to a million on Instagram so can you do me a favor if you're loving this content if you believe that you want to grow and get out of De and start building wealth and start investing and and really start managing uh the resources God has given you better so that he can expand your territory I want you to hit the Subscribe button and join this E3 community and E3 Community stands for we're expanding in the areas of our abundance wellness and freedom and I promise you you will absolutely love being a part of this community because my E3 Community gets first dibs on all of our new stuff that we have coming out y'all let me tell you something in the fall man there's some amazing things coming so please hit that subscribe button and hit that Thumbs Up Button uh but before we get into the top five accounts I want to give you what exactly are these accounts going to be offering you that I'm presenting to you today here's number one every account that I'm going to go over is going to be FDIC insured this simply means that your money is 100% safe up until a certain amount and I'm going to break down that amount here in a little bit number two it also is going to offer you these accounts are going to offer you competitive interest rates okay active as of May of 2024 uh these rates are current as of today but here's the truth you guys these rates can change as the FED adjusted their interest rates so I highly encourage you to open a hysa a high yeld savings account today even if you're just starting off with $100 heck even if you're just starting off with 50 but I would say put a $1100 in there and then start putting more money into it because you want to get that high apy all right here's number three that I think was very very important for all of these accounts that I'm going these are established banks these are established reputation banks these banks have been around for a while these are not new startup banks these are not Banks who just partner with apple to no no no these are banks who've been around they're proven they're stable they got enough capital and they are paying good rates so these are not brand new uh just came up in 2024 no no no these are companies who've been around for at least at least 5 to 10 plus years here's another one that's super super great that that all these accounts I'm going over because I did this last year and some of these accounts had fees right um but all the accounts I'm going through today all five of them have no fees and no minimum balances to open up an account so there's no hidden costs or requirements to get an account while there are no minimum balances I am suggesting to everyone that you open up at least $100 so you can start seeing some money coming back into your account all right so before diving into my five top higho savings account I want to give you three just three quick reasons why you need to open one today number one we said this earlier is a higher interest rate and much better returns as of 2024 the average interest rate for a higher saving account is right around 4.25 to 4.5% on the apy right compared to regular savings account which typically offers around a 0.33% ay say one more time as of this year a high yield savings account is giving you like a 4.5% apy your typical regular sav's account inside of like a a big Bank Bank of America Wells Fargo they're going to give you 0.33% apy you see here's a fact higher interest rates mean your money grows a lot faster for an example let's say you put $10,000 inside of a highe savings account earning a 4.5% apy for that year you will earn approximately $450 in interest for your money just just sitting in the account now in contrast the same amount of money in a regular savings account with a 0.33% apy you will earn only $33 I I want you to sit right there if you got if you practice what I'm preaching if you're practicing what I'm teaching you to do and you put 3 to 6 months inside of your savings account on average for the average person it should be about $10,000 sitting inside their savings account right just your money just sitting there and you not doing nothing you're making $450 hold on let me do the math here $450 a year $450 a year divide that in 12 that's $37 a month that your money just making you're not doing anything that's some of Y saying oh that's not a whole lot of money B please $37 a month for for a lot lot of you will give you you know at least a half a tank of gas that you didn't have to pay for $37 a month can buy you good groceries $37 a month would pay for your Starbucks for the month or at least for a couple of days here's the point the significant difference in interest earnings can make a substantial impact over time especially with compounded interest helping you reach your financial goals faster I told you all in one of my accounts I have well over six figures in there and I made well over $6,000 my money just sitting in that account I didn't add nothing else to it because I had already maxed out what I want to put inside of that higho savings because that higho savings savings is for my personal emergency if my company goes under I don't touch that if something happens with me I touch it because it's my savings account then I have a savings account for my business I don't touch that for my personal so I have two high yield savings accounts and man my personal one made me over $6,000 6 grand and I didn't do nothing instead I allowed my money to sit right there 6,000 divid 12 $500 a month I I wasn't going to say this on the show it's not even my it's not even my notes even talk about it but I be honest with you all I don't spend money on dating anymore I don't I use the compound interest so whatever money I made the previous month I add that to my dating line and if I don't go on any dates I don't touch that money cuz I didn't make that money my money made that money let's dive into something exciting bethl Tech micro credential program just 15 weeks and you're on your way to mastering in demand Tech skills setting you apart in today's competitive job market and the best part it's all online 100% online and fitting perfectly into your busy life bethl Tech isn't just about tech skills it's about growing your character through spiritual mentorship and Faith groups shaping you into a Christian leader in the tech World you'll learn from industry experts geared towards your success what about Landing your dream job bethl Tech graduates are making waves at companies like Salesforce and Dale and with a price tag of only $5,000 it's an investment in your future that's both affordable and valuable are you ready to start with multiple start days there's never been a better time visit Anthony oil.com betho again that is Anthony oil.com bethl and step into your Tech Career with confidence and character let's say I I if I didn't go on a date this is the month of May if I don't go on a date in June or July cuz I'm going be out out of the country that means I made $1,500 probably a little bit more than that because of the compounding I I don't and let's say if I go out and date on September I don't put $1,500 in a in into September's dating line no whatever money my money made me last month inside of my hysa my higho savings account for the previous month that's my dating line so if the interest rate rate goes down which a lot of banks that I'm giving you today specifically two of them I've never seen their interest rate fluctuate down massively um whatever that rate is whatever that month is say one month I only made $350 well that's my dating light item for the month because I'm getting into letting my money make more money and then fund my hobbies and my interests and it's not my day-to-day my my 9 to5 my business that I make income off of it's not funny my money is funny that here's number two so number one why you need to get a high Y savings account today like literally today right it's because you're going to get higher interest rates and better returns here's number two inflation protection did you know the average inflation rate in the US over the past decade has been right around 2% per year and here's a fact regular savings accounts with low interest rates often don't keep up with inflation meaning the purchasing power of your money decreases over time with your money just sitting in that account how your saves account with higher interest rates are better equipped to offset inflations so if we're inflating 2% a year and our money is making 4 point anywhere between 3.5 and higher which today I'm going give you 4.5% or higher right you guys you're you're you're keeping up with inflation with your money so by choosing a high savings account you preserve more of your money's value over time time ensuring that your savings grow in real terms and maintain their purchasing power and here's the last thing before I give you you know my top five highe savings account it's easy access and absolutely 100% low risk you see hsas higho savings accounts offer the same level of FDIC insurance as regular savings accounts and some of these banks will cover up to well all of them will cover up to 250,00 000 per depositor per insured bank but even some of them will cover up to a million $2 million depending on what kind of uh money you're coming to the table with so here is the honest fact of high savings H ysas provide the same easy access to your funds as regular savings accounts typically without any penalties or withdrawals right I mean any no penalties for withdrawals though some may have monthly transaction limits there's really no penalty all right so they're offered this this safe and and accessible place to store your money with the added benefit of high returns this makes them an ideal option for emergency funds short-term funds goals or any situation where you need to both security and something that you can keep it liquid and so by choosing a higho savings account over a regular savings account you benefit from higher returns better protection from inflation and the same level of safety and accessibility while making more money so here's number one Ali bank with the apy of 4.20% now Alli bank has been around for a while and I mean this for a while they're really known um in a car financing space right so they've been able to really give um out a lot of car loans and to be honest with you I actually financed my second car with Ali Bank um and so they're very very they've been around for years and they have a lot of equity in the game but they have a great uh apy when they comes to a highe of savings account of 4.20% and so if you already have a along with them that you're paying golf or you already have a checking account with them hey why not open up additional account with them at 4.2% for a high saves account here's number two I personally use this bank this is one of the banks that I personally use as well and this is Sofi Bank you know they have a four .60 apy and this comes when you set up a direct deposit uh with their checking account that will qualify you for the 4.6 y up to I'm sorry 4.60% annual percentage yielded now I told you earlier that I want to present banks that not just give you a good interest rate but they also surround you with some great things as well and this is another reason here's some other reasons why I love Sofi and I'm with SOI is because they have no account fees absolutely no overdraft fees not that we would ever need overdraft fees within my community and no minimum balances to open up an account and last but not least no monthly fees and one of the greatest things that I think that comes with this particular bank is that you get paid two days early so if your paycheck is schedule get there on Friday you can possibly get it on Thursday or Wednesday now one thing I love about them is that they know that we're all trying to reach goals so you can have an automatic saving future you can organize your money set saving goals and save with vaults and roundups this is Mobile Banking made super super super easy now I told you earlier that some FDC all of FDC uh insured banks will give you $250,000 of insurance well rest easy knowing that with Sofi you can get access to additional FDIC Insurance up to $2 million on deposits through a seamless network of participating Banks so listen uh soof far is a great Bank we're going to link them in today's show notes we're actually link all of these in today's show notes uh below give them a check uh number three is MX savings right American Express their apy is 4.25% so according to nerd wallet MX hysa ranks among the best with their combination of above aage average rates and consumer friendly features such as no minimum balances no monthly fees 24/7 worldclass customer service uh and and just simple transfers here's number four wealth front right wealth front now their apy is 5% zero account fees but now watch this out uh This what I love about them is I have seen their their deposits go down so they'll get you in at 5% but then they can go down to 3% 3.5% but their introductory rate is pretty high right and so if you like if you want a high interest rate to come in for your first 36 days and then Dro to 3% uh check them out but wealth PR is a solid bank and I love them here's number five discover their apy is 4.25% um and I love them they've been around you all know they're very well known for their their credit cards Discover credit cards just like how MX is as well but they have a great highi savings account 4.25 uh percent now I want to remind you that the highest on the of them all was a 4.60% and they offer you so much more around that which that is at soofi so I would highly recommend you all consider them but these other banks are absolutely amazing now I want to leave you with a bonus one a bonus one that I also bank with and this is Bank purely you see now their apy is 5.05% % but you got to have a balance of over you have to maintain a balance of $25,000 inside of this particular checking account and they're going to offer you a $2.7 million worth of FDIC Insurance um if you come to the table with a large amount of money if you need that much but the majority of us uh who are watching right now are not going to open up an account today with 25,000 yeah I want to encourage you to open up an account today with $100 minimum but let's just say already you're saving for your your home you're saving for your for your vacation for a car you're going to put down or for a business that you may want to start why not get this free interest this free money for your money just sitting in an account now watch this um this is not an investment show this is not hey how to get you know 5% I tend to look at a high savings account before I look at a CD because a CD is going to offer me 5% but then I don't really have access access to that for the term of the CD but if I can get a 4.6% let's say with Sofi um and I have access to my liquid funds and I have access to the compound interest that I made um I would rather go that route than get 5% locked up for two years no no no no I don't want that I don't want that I I I want access to it now if you're going to give me 10 12 15 24% all day lock it up but we need to have our funds accessible we need to have them liquid and so I want you to check out these Banks uh we're going to link all of them in today's show notes where you can go and check them out I promise you you will be blessed uh but join me over there at bank purely or at Sofi I promise you you'll thank me later especially when you start seeing free money hit your account this your boy Anthony O'Neal listen if I miss any uh savings account how your savings account drop it in the comment below let me know and I'll see you in the next show peace out [Music]