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Nearly 40% of Americans have less than $500 in cash savings, survey shows
(www.livenowfox.com)
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this post was submitted on 15 Apr 2026
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A Boring Dystopia
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I can't remember the last time I saw a bank pay interest, either. If you want to grow a principle balance, you need to invest it, and that gets real iffy when the demented gameshow host decides to manipulate the markets.
It seems like my 401k dips $5k every afternoon when Trump promises something insane, then bounces back the next morning when he doesn't follow through.
If you have more than a few thousand in your bank you need to look at their financial offerings or consider opening a high yield savings account at a larger bank. My credit union has a few offerings which give 2-3% interest as long as you maintain a balance over a certain amount (usually 1-5k) but most of the account offerings that are more focused on being fee-free only yield about 0.25% interest. And this is all without dipping into actual brokerage and other more risky financial products
Basically it's the difference between $10k earning you $25 a year or earning you $300-400/year
You can open a brokerage account like Fidelity and put the money in a 3-4% cash account(like spaxx). Takes about 10 minutes and it's low risk. Can get your money any time like a bank.
This is the ideal way to handle your emergency fund, toss it in a high yield savings account with a different bank from your every day one, and then it's harder to tap into if you have a mild inconvenience. Between the high yield savings account and CDs that I keep about 1/3 of my emergency fund tied up in, my emergency fund is earning me about $500/year. Is that a life changing amount of money? Of course not! But it is enough that I can basically never touch my emergency fund and it should hold its value a bit above inflation indefinitely. And as a bonus it's all FDIC insured!
Any halfway decent bank/credit union should be giving a decent interest rate given how high the national rate is.
For example Ally gives 3+% on savings accounts - https://www.ally.com/bank/view-rates/