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this post was submitted on 03 Nov 2023
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Short term can be defined many ways. For some, a year can be considered short term. And depending on how much you deposit, you can get good returns as early as 6 months.
Good point. After the heat death of the universe, we can conclusively say that the single-digit percentage rates gave humans a relatively decent amount of money over their lifetimes. Comparatively.
I mean, I never said it's life changing money. OP's question was about different ways to get money, and earning interest off of your savings in a high yield savings account gets you some money with almost no effort. Not to mention it's better than having your money sit in a regular savings account earning 0.05% or something. It's a pretty good way to save up for something in the short term, like if you plan to buy a new laptop or phone in a few months.