{"id":12895,"date":"2023-08-18T23:04:04","date_gmt":"2023-08-18T23:04:04","guid":{"rendered":"https:\/\/isafespend.com\/news\/4-places-to-keep-your-cash-as-the-federal-reserve-weighs-a-policy-shift\/"},"modified":"2023-08-18T23:04:05","modified_gmt":"2023-08-18T23:04:05","slug":"4-places-to-keep-your-cash-as-the-federal-reserve-weighs-a-policy-shift","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=12895","title":{"rendered":"4 places to keep your cash as the Federal Reserve weighs a policy shift"},"content":{"rendered":"
<\/span><\/p>\n

1. High-yield savings accounts<\/h2>\n
\n

The top 1% of savings accounts has an average 4.69% rate, according to DepositAccounts.com. But only 22% of investors are earning 3% or more on their cash, according to a Bankrate survey conducted earlier this year.\u00a0<\/p>\n

High-yield savings accounts, with easy access to your funds, are worth considering, said Ken Tumin, founder and editor at DepositAccounts.com.\u00a0<\/p>\n

They’re also safe places to keep your cash. Most savings accounts are covered by the Federal Deposit Insurance Corporation, which generally offers depositors $250,000 of coverage per bank, per account type.<\/p>\n

While investors expect the Federal Reserve to start cutting interest rates next year, online savings account rates won’t fall significantly until the policy shifts, he added.\u00a0<\/p>\n<\/div>\n

2. Certificates of deposit<\/h2>\n
\n

Certificates of deposit \u2014 often called CDs \u2014 guarantee a set interest rate for a specific period of time, which “can be a good option,” said Tumin.\u00a0<\/p>\n

Whether an investor decides to go for an online bank, local credit unions or bigger banks, they can get significantly competitive rates.\u00a0<\/p>\n<\/div>\n

\n
\n
\n
\n
<\/span><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n

The top 1% average for one-year CDs can be as high as 5.55% as of Aug. 18, according to DepositAccounts.com.\u00a0<\/p>\n

Rates are also typically “locked in,” meaning even if interest rates begin to go down, your investments will keep growing at the same rate until maturity.\u00a0<\/p>\n<\/div>\n

3. Treasury bills<\/h2>\n
\n

Amid rising interest rates, Treasury bills have also become a competitive option for cash, with yields well above 5%, as of Aug. 18. Backed by the U.S. government, Treasury bills are considered “very safe,” according to Tumin, with terms ranging from one month to one year.\u00a0<\/p>\n

You can buy Treasury bills, or “T-bills,” through TreasuryDirect, a website managed by the U.S. Department of the Treasury, or through a brokerage account.\u00a0<\/p>\n

One of the perks of buying through a brokerage account is more liquidity, meaning you can access the money faster if needed. The trade-off is you’ll earn a slightly lower yield compared with that of T-bills purchased through TreasuryDirect.<\/p>\n<\/div>\n

4. Money market funds<\/h2>\n
\n

Another option to consider is short-term money market funds, said certified financial planner Chris Mellone, partner at VLP Financial Advisors in Vienna, Virginia.\u00a0<\/p>\n

Money market mutual funds \u2014 which are different from money market deposit accounts \u2014 typically invest in shorter-term, lower-credit-risk debt, such as Treasury bills.<\/p>\n<\/div>\n

\n

Yields are closely tied to the federal funds rate and some of the biggest money market funds are paying north of 5%, as of Aug. 18, according to Crane Data.\u00a0<\/p>\n

With more interest rate hikes still possible from the Fed, Mellone currently prefers short-term money market funds over CDs for higher rates and more flexibility. “It’s really the best of both worlds,” he said.<\/p>\n

However, there are a couple of downsides. Although money market funds aren’t likely to lose value, declines have happened, and investors should know there’s no FDIC protection.<\/p>\n

For more on savings accounts, check out CNBC Select’s recent ranking on the\u00a0<\/em>best high-yield savings accounts<\/em>.<\/em><\/p>\n<\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

1. High-yield savings accounts The top 1% of savings accounts has an average 4.69% rate, according to DepositAccounts.com. But only 22% of investors are earning 3% or more on their cash, according to a Bankrate survey conducted earlier this year.\u00a0 High-yield savings accounts, with easy access to your funds, are worth considering, said Ken Tumin,<\/p>\n","protected":false},"author":1,"featured_media":12896,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-12895","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"\n4 places to keep your cash as the Federal Reserve weighs a policy shift | iSafeSpend<\/title>\n<meta name=\"description\" content=\"1. High-yield savings accountsThe top 1% of savings accounts has an average 4.69% rate, according to DepositAccounts.com. But only 22% of investors are\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=12895\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"4 places to keep your cash as the Federal Reserve weighs a policy shift | iSafeSpend\" \/>\n<meta property=\"og:description\" content=\"1. High-yield savings accountsThe top 1% of savings accounts has an average 4.69% rate, according to DepositAccounts.com. But only 22% of investors are\" \/>\n<meta property=\"og:url\" content=\"https:\/\/isafespend.com\/?p=12895\" \/>\n<meta property=\"og:site_name\" content=\"iSafeSpend\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-18T23:04:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-18T23:04:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/107274888-1689952023831-gettyimages-1420037581-pi-2474219.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/isafespend.com\/?p=12895#article\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/?p=12895\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\"},\"headline\":\"4 places to keep your cash as the Federal Reserve weighs a policy shift\",\"datePublished\":\"2023-08-18T23:04:04+00:00\",\"dateModified\":\"2023-08-18T23:04:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/isafespend.com\/?p=12895\"},\"wordCount\":497,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/isafespend.com\/?p=12895#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/isafespend.com\/?p=12895\",\"url\":\"https:\/\/isafespend.com\/?p=12895\",\"name\":\"4 places to keep your cash as the Federal Reserve weighs a policy shift | iSafeSpend\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/#website\"},\"datePublished\":\"2023-08-18T23:04:04+00:00\",\"dateModified\":\"2023-08-18T23:04:05+00:00\",\"description\":\"1. High-yield savings accountsThe top 1% of savings accounts has an average 4.69% rate, according to DepositAccounts.com. But only 22% of investors are\",\"breadcrumb\":{\"@id\":\"https:\/\/isafespend.com\/?p=12895#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/isafespend.com\/?p=12895\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/isafespend.com\/?p=12895#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/isafespend.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"4 places to keep your cash as the Federal Reserve weighs a policy shift\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/isafespend.com\/#website\",\"url\":\"https:\/\/isafespend.com\/\",\"name\":\"Solutions For Real\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/isafespend.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/isafespend.com\/#organization\",\"name\":\"Solutions For Real\",\"url\":\"https:\/\/isafespend.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"width\":690,\"height\":64,\"caption\":\"Solutions For Real\"},\"image\":{\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/isafespend.com\"],\"url\":\"https:\/\/isafespend.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"4 places to keep your cash as the Federal Reserve weighs a policy shift | iSafeSpend","description":"1. High-yield savings accountsThe top 1% of savings accounts has an average 4.69% rate, according to DepositAccounts.com. But only 22% of investors are","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/isafespend.com\/?p=12895","og_locale":"en_US","og_type":"article","og_title":"4 places to keep your cash as the Federal Reserve weighs a policy shift | iSafeSpend","og_description":"1. High-yield savings accountsThe top 1% of savings accounts has an average 4.69% rate, according to DepositAccounts.com. But only 22% of investors are","og_url":"https:\/\/isafespend.com\/?p=12895","og_site_name":"iSafeSpend","article_published_time":"2023-08-18T23:04:04+00:00","article_modified_time":"2023-08-18T23:04:05+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/107274888-1689952023831-gettyimages-1420037581-pi-2474219.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/isafespend.com\/?p=12895#article","isPartOf":{"@id":"https:\/\/isafespend.com\/?p=12895"},"author":{"name":"News Room","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf"},"headline":"4 places to keep your cash as the Federal Reserve weighs a policy shift","datePublished":"2023-08-18T23:04:04+00:00","dateModified":"2023-08-18T23:04:05+00:00","mainEntityOfPage":{"@id":"https:\/\/isafespend.com\/?p=12895"},"wordCount":497,"commentCount":0,"publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/isafespend.com\/?p=12895#respond"]}]},{"@type":"WebPage","@id":"https:\/\/isafespend.com\/?p=12895","url":"https:\/\/isafespend.com\/?p=12895","name":"4 places to keep your cash as the Federal Reserve weighs a policy shift | iSafeSpend","isPartOf":{"@id":"https:\/\/isafespend.com\/#website"},"datePublished":"2023-08-18T23:04:04+00:00","dateModified":"2023-08-18T23:04:05+00:00","description":"1. High-yield savings accountsThe top 1% of savings accounts has an average 4.69% rate, according to DepositAccounts.com. But only 22% of investors are","breadcrumb":{"@id":"https:\/\/isafespend.com\/?p=12895#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/isafespend.com\/?p=12895"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/isafespend.com\/?p=12895#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/isafespend.com\/"},{"@type":"ListItem","position":2,"name":"4 places to keep your cash as the Federal Reserve weighs a policy shift"}]},{"@type":"WebSite","@id":"https:\/\/isafespend.com\/#website","url":"https:\/\/isafespend.com\/","name":"Solutions For Real","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/isafespend.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/isafespend.com\/#organization","name":"Solutions For Real","url":"https:\/\/isafespend.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","width":690,"height":64,"caption":"Solutions For Real"},"image":{"@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/person\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","caption":"News Room"},"sameAs":["https:\/\/isafespend.com"],"url":"https:\/\/isafespend.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/12895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12895"}],"version-history":[{"count":1,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/12895\/revisions"}],"predecessor-version":[{"id":12897,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/12895\/revisions\/12897"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/media\/12896"}],"wp:attachment":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}