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Why has it taken so long for savings account interest rates to start rising?

Sep 16, 2022
The national average is still a paltry 0.13%, according to Bankrate, even as the Federal Reserve hikes interest rates.
Online banks tend to pay the highest rates on savings accounts because they don't have the same overhead costs as brick-and-mortar banks.
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With rising home prices and stagnating wages, a new savings goal: Beyoncé tickets

Aug 4, 2022
Concert tickets might not break your soul like, say, buying a home in this market could.
The last time Beyoncé went on tour was 2016.  Floor tickets in some cities went for over four figures on the resale market.
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Consumers are spending up a storm — and spending down their savings

May 27, 2022
Even though they're pessimistic about the economy and economists worry about a recession.
Americans are spending more money than they've got coming in each month.
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Survey finds many Americans unprepared for $1,000 emergency expense

Jan 19, 2022
According to the Bankrate survey, 20% would need to use a credit card to pay off a big emergency expense and 10% would borrow from family or friends.
Inflation is part of what's chipping away at Americans' savings.
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We're back to saving less

Dec 23, 2021
The personal savings rate dropped in November to its lowest level since December 2017.
After squirreling away money at the heights of the pandemic, Americans are reverting back to their pre-COVID spending habits.
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About a quarter of Americans have no emergency savings

Jul 21, 2021
A Bankrate.com survey found that while the pandemic has afforded some the opportunity to save money, many low-income households could not.
Around 25% of Americans report having no emergency savings, up from 21% in 2020, per a new Bankrate.com survey.
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People adopted better financial habits during the pandemic

Jun 22, 2021
Two recent surveys show a trend toward increased financial discipline.
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For public good, not for profit.

Despite more savings, American households still have a lot of debt

Who's taking on debt for what reasons, and why paying it down is good for your financial and mental health.
Recent data from the Federal Reserve Bank of New York shows the overall amount of household debt increased steadily in 2020.
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Could your emergency savings pay off your credit card debt?

Feb 25, 2021
More than half of Americans say their emergency savings could pay off their credit card debt, according to a recent poll.
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Savings take a hit as pandemic lingers

Oct 30, 2020
People bought more stuff, like cars and home office equipment, an expert says. But also, there haven’t been any more relief checks.
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