What is a high-yield savings account and should you use one?

The video explores how saving money can impact achieving financial goals, focusing on high yield savings accounts. It compares traditional and high yield savings accounts, highlighting the higher interest rates of the latter. However, it also discusses the limitations of high yield accounts, such as withdrawal restrictions. The video advises using high yield accounts for long-term goals like building an emergency fund or saving for a major purchase, while keeping some funds in a traditional account for quick access. Consulting a financial advisor is recommended for personalized advice.

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