Do these 5 things if you want to improve your credit score cnn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnn.com Daily Mail and Mail on Sunday newspapers.
5 savings account terms you should know
By Ellen Chang
High-yield savings accounts help consumers ramp up funds faster. (iStock)
Instead of opening a traditional savings account, people can choose among banks that offer high-yield savings accounts. Interest earned on deposits can be significantly greater than the percentage yield on a typical savings account, said Bruce McClary, spokesman for the National Foundation for Credit Counseling, a Washington, D.C.-based nonprofit organization. That means your money will be working harder and can get you to your savings goals faster, he said.
Here are the five key terms to know about high-yield savings accounts and why they are important.
Millions of Americans unable to pay their rent during the pandemic face a snowballing financial burden that threatens to deplete their savings, ruin their credit and drive them from their homes.
A patchwork of government action is protecting many of the most financially strapped tenants for now. But it could take these renters especially low-income ones years to recover, even as the rest of the economy begins to rebound.
“Even if they say we can pay [missed rent] back in two or three years that’s money we don’t have,” said Kelly Wise, a 32-year-old resident of L.A. s Westlake neighborhood. After losing jobs selling merchandise at concerts and cutting fabric for Hollywood sets, she is more than $10,000 behind on rent.