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savings-finances-graphWith interest rates on savings accounts near zero, what do you do with your money in savings? Here are 2 ideas:

1. Get a high-yield checking account. You can earn nearly 20 times the rate of the average savings account and also avoid typical checking account fees. Local banks and credit unions typically offer the best rates (up to 4%) and may reimburse you $25 a month in ATM fees. See for options near you.

2. Open an online brokerage account that offers checking account features, such as direct deposit, ATM/debit cards, checks, and online bill paying.

Summarized from the article “Credit & Savings” in Money magazine, May 2012, p. 76.