"Maximizing Your Savings: Choosing the Best High-Yield Account"
High-yield savings accounts (HYSAs) and certificates of deposit (CDs) are offering interest rates of about 5%, making them a more attractive place to put your cash. HYSAs have higher interest rates compared to regular savings accounts, while CDs have a guaranteed, fixed interest rate over a fixed term. For cash that you might need to access right away, like for emergency expenses, HYSAs are recommended. On the other hand, if you know the exact timeline for when you might need some cash, like money for a future home or car purchase, then a CD might be a better option for you.