As interest rates have continued to climb from historically low levels it is important that you optimize your money. This is especially true for cash accounts such as checking and savings. The best way to do this is to check with your bank and or brokerage to see if your “Core” account is a simple FDIC insured account which only yields a very small percentage or if it is in a money market account which is currently yielding just over 2%. This might not seem like much but can really add up for anyone currently holding a large cash position in anticipation of a significant upcoming purchase like a home.
