CIT Bank on Frugal Friends Podcast
What to Include in Your August Budget
Transcript
Yeah. And you also want to make sure that your emergency fund is in a high yield savings account. So inflation is 3% usually year over year, which means your emergency fund loses 3% of its spending power. However, if it's in a high yield savings account, you're typically going to be getting around 3% annually on that money. So a high yield savings account makes sure your emergency fund buying power keeps up with inflation. So we really like the one at CIT, you can go to frugalfriendspodcast.com slash CIT. For emergency funds, we particularly like their Platinum account, which is frugalfriendspodcast.com slash Platinum, because that gives a little bit higher APY for balances over $5,000.
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