Any tips for personal finances during these times?
I’ve got one. As interest rates have plummeted these past 6 months, saving, checking, money market accounts, CD’s—even the high-yield online variety—have become almost useless for anyone hoping to earn a bit from interest.
However, there’s one company in particular that hasn’t touched it’s rates.
T-mobile. Yep, that T-mobile. 4% on the first $4000 is absurd given the Fed’s current interest rates. 1% return on any balance over that $4k is also phenomenal at the moment. Look up “best rates on high-yield accounts” and you’ll see that they cap out at about 0.9%, and that's for similar online-only savings accounts that5often come with some strict requirements to unlock that rate.
If you’re a T-mobile customer already, opening a checking account with them feels like a no-brainer.