It's a high yield savings. It's a savings account where you can make like 3-5% depending on the market. It's wonderful. I use discover which is at 4.10% and pair it with the credit card that I only use when that quarterly 5% hits. Then fidelity investments and cash management account that I only use the 2% credit card for. Definitely open a hysa.
@@thebossrozayywhat do you mean of 100? Your emergency fund should be more than that. Aim for a month’s worth of expenses while you’re paying off debt. Don’t put your emergency fund into the stock market. If you need that money while the markets are down then you will be struggling to cover your expenses.
@thebossrozayy the s&p is good but it's also not as liquid as a Savings account and more risky Im not saying to keep everything in a hysa but if you have all your money but $100 in the s&p then that can end up very badly for you if you need a lot of money quickly
I have a high yield from amex I just opened it. This year. I 35😂
I did the same im 41
@@poured_treasures we started late 😭
It's okay you did it,I'm about to at 32, I know people in their 40's, 50's who still dont
Thank you im 32 doing to do the same
@@belleame4671 we're still young.
I’m about to open one, I had one a while ago I’m not sure why I closed it 😮
so what IS a HYSA?🤷🏻♀️
It's a high yield savings. It's a savings account where you can make like 3-5% depending on the market. It's wonderful. I use discover which is at 4.10% and pair it with the credit card that I only use when that quarterly 5% hits. Then fidelity investments and cash management account that I only use the 2% credit card for. Definitely open a hysa.
@@quintessembo so am I required to add money on a monthly basis or can I just add money and leave it?
One month treasures are even higher if you are willing to lock in your money for a month
Then it’s not an emergency fund if it’s locked away.
You also pay more taxes.
Exactly…..so what’s the point
Making money on practically anything is taxed. What’s your point?
@@reezdog pay taxes off free money still winning
Only on the interest made, so means a little bit of money from the "free" money made.
from FREE money
5% percent tho
Not very much return
@@thebossrozayy would you rather it get eaten by inflation?
5% risk free is very good actually
@@MainConMan what’s 5% of 100??!?!?!?
Exactly not that much of a return
Just put that in the S&P500.
@@thebossrozayywhat do you mean of 100? Your emergency fund should be more than that. Aim for a month’s worth of expenses while you’re paying off debt.
Don’t put your emergency fund into the stock market. If you need that money while the markets are down then you will be struggling to cover your expenses.
@thebossrozayy the s&p is good but it's also not as liquid as a Savings account and more risky
Im not saying to keep everything in a hysa but if you have all your money but $100 in the s&p then that can end up very badly for you if you need a lot of money quickly