5 Worst Places to Keep Your Money

[@Tashas_Travels]

I am $100 away from hitting my $1000 emergency fund and I'm so happy because I was a spender who has never saved this much money, it may be nothing to others but it's a lot to me. I am now just thinking of what to start saving for next 🤔. I don't have any debts so I am skipping that part.

[@Architect-jg8cn]

3-6 months of expenses in an emergency fund. Then save for retirement.

[@Tashas_Travels]

@@Architect-jg8cn yes I start my 6-12 months worth of living expenses on July 1st. Since I dusted off my $1000 emergency fund.

[@drummerhq2263]

Keep it up

[@PeaShooter1997]

The fact that you have no debt is awesome and believe it or not puts you ahead of a lot of people, build that emergency fund.

[@c7042]

Heroin, cocaine, meth, and marijuana probably shouldn't be options.

[@freedomring3022]

"like Megan Markle avoids her in laws" --- LMAO!!

[@e2ndcomingsoon655]

Brilliant comment

[@joysilas4724]

😂😂😂😂😆😆😆

[@mrcrowleyoz]

who’s that?

[@eataxpros]

George a menace for that 😂

[@TopVillain]

A real knee slapper

[@Zielnik333]

George, you're slowly becoming my favourite comedian. Your delivery is spot-on.

[@cindyt3416]

Omg George I don't know why you were worried about having a channel. You are hilarious and informative. Keep up the good work!

[@rhsxo]

I daily drive a 2007 Toyota Camry Hybrid with over 250,000 miles and yes, the 4 disc CD changer is loaded with some rocking albums. I cannot confirm nor deny if the No Strings import album is one of them 😊

[@Imnotelijah1]

2007 Toyota Camry was my first car. I loved it

[@raginaelmi]

I drive 2004 Toyota Siena with a disc cd player and cassette player. I can't tell you how many people got surprised when they see it.

[@FennaVa]

I am really worried about the current bank crisis/interest rates, these are all the signs of yet another market crash , so my question is do I still save in the United States dollar or is this a good time to buy gold or some other assets ?

[@marcellasilva4015]

Many overlook that banks are return-driven businesses. I don't trust keeping a large sum in a bank. Instead, I invest with guidance, enjoy the benefits, and save for retirement.

[@ralfbrown-kl1gp]

After the '08 financial crisis, I've learned not to trust corporations. Since 2020, I've been investing with a financial advisor and have had no major losses, so I'm not going back to relying solely on banks.

[@strawberryme08]

Get food storage 😬 gold can’t buy food that isn’t there

[@madness03]

gold is king

[@oliverdavis-tw2xl]

Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?

[@PrincessZelda609]

I have used CDs many times to save for specific goals. They earned a higher interest rate AND I could not tap into it for a certain amount of time, which is good for people who lack a little discipline like me. I'm currently saving for a house and intend to open a CD for this purpose because I won't need the money for another year or two. I just choose the appropriate CD to fit my timeline. 🤷🏿‍♀️

[@landondean4701]

They can be a great tool, just not for an emergency fund. I have a $20,000 CD at 4.5%. Money market rates are liquid and pay 5.05% so CD's don't always pay higher rates.

[@AbidingHopeMentalHealthCoach]

I haven’t seen a CD that gets better interest than my Betterment account savings. I’m getting 4.5% APR right now on a no-minimum account. Well, three, actually. And they are FDIC insured up to $2 million (because they are in multiple banks). I keep the bulk of my emergency fund there, along with the money I set aside for taxes (instead of loaning it interest-free to the government, I save it in an interest-earning account), so I can make a couple hundred dollars, maybe, on the money I need to pay my taxes (and being a self-employed entrepreneur, I have plenty of taxes to pay!).

[@PrincessZelda609]

@Lisa Google revealed several CD options higher than 4.5%. I bank at NFCU and they offered CDs higher than 4.5%. If there are savings accounts yielding higher rates then great. But my point was that CDs are not as pointless as the author of this video makes it out to be if you just assign a goal to them. I always made good use of them because I used them with intention.

[@AbidingHopeMentalHealthCoach]

@@PrincessZelda609 I can see your point if it’s a short-term thing with a plan to use the money at the end of a period of time and you won’t need it at all before. I like that I can add to my accounts monthly, and withdraw at any time. I can’t think of anything right now that would justify tying up any amount of money for a year or two, but I’m sure some people could.

[@PrincessZelda609]

@Lisa Reynoso You don't understand the value of a CD and that's fine, it's not for you to understand. If the method isn't for you, then just keep doing what is best for you. 🤷🏿‍♀️ CDs have always been MY best tool to save for goals, both short and long term

[@metaltera86]

As an hvac tech, I approve this video

[@markbeiser]

Until you have to clean tree rat chunks out of someones outdoor unit...

[@BoostAndRedline]

Thanks your in depth video about IUL’s I finally put my foot down and cancelled my policy

[@mercyp7151]

This is a life saver!!! I hate those minimum limits that regular savings accounts use to pile on the fees. These are adult wins - when you have great financial advice from the Ramsey team so I dont have to drown in weeks worth of research and endless stress. Thank you! 👊

[@JustenHarden]

Came here from today’s upload and gotta say .. thank you so much! Opened a high yield savings with Marcus and using the calculator, it’s quite embarrassing how much I was leaving on the table by not doing it sooner.

[@catherinewetzel417]

This answered my burning question. Thank you!

[@matthewrudomin]

George, I just converted all my money into CDs.. not certificates of deposits, compact disc's, I'm reliving my childhood of Aerosmith, Metallica, and Weird AL

[@myjoysunshine]

George, we love your channel! Keep the videos coming! 💵 ❤

[@lindamoore8850]

Thanks George!! I just opened and made my first deposit into my Marcus account!!

[@arlettez3894]

How do you deposit money into an online account? I'm interested in opening a Savings with Marcus but how do I deposit?

[@lindamoore8850]

@@arlettez3894 you do an online transfer from your bank account to you Marcus account. From account set up to transfer takes about 5 minutes.

[@Speedslip-bq2gk]

I tied my money to a pigeon! You can transfer money from your bank to another. Or, close one account, open a new one. Write a check works too for deposit. Or, just mail it all to me and my pigeon!

[@mmp495]

​@@Speedslip-bq2gk😂

[@TheeRoyalAfro]

Thanks for the info George and Ramsey team!

[@kenyu8192]

Do you know who is going to transfer his money after watching this video?.... "It's gonna be me"! Thanks George!

[@graceweber2822]

Me too.

[@alanacairns8439]

Thankyou so much George!! I love watching you and Ramsey together. I was nervous about an online savings account but thanks to your recommendation, I just opened an account with the link you provided. It brings me peace of mind under your guidance. Love your comedic sense of humor.

[@Andrew_28]

This channel should be bigger on KZbin. Excellent content and production

[@jack7240]

GK these jokes are hilarious please more content !!!!! great work!!!

[@brandon9715]

For short-term investing that is for money beyond your emergency fund, CDs are great. I have a good chunk of money in a CD right now because rates are so high. A guaranteed 5.2% return with FDIC backing is solid when you want the money in a year or two.

[@stephenayriss5049]

5% guaranteed is great. That money will go to the government who spends more then they make.

[@brandon9715]

@@stephenayriss5049 some of it will, yes. Just the same capital gains as having it in a high yield account

[@brandonrennison]

Same that is what I am doing right now.

[@pamm99]

Agree! I just opened a CD (first time in my life) with a 5.25 rate. I will make a little over 4K in 18 months.

[@dianecelento4974]

@@pamm99 Wow! That's great.

[@lisab5904]

Perfect timing, George, Thank you! I was just contemplating where to put my ff emergency fund as my savings account rate is a pitiful 0.25%!

[@Mily-ql1eo]

Marcus works for me too. Thx for the content George.

[@jasondima1411]

Love the home alone clips! Keep them coming!!

[@Tenjiecorner]

My money is sitting on Citizens HYSA with current 4.5%. They have physical locations too. 😊

[@dianecelento4974]

That's great. I'm looking into that one.

[@macdaddychene]

Which Citizens? There are like over 100 different banks and credit unions with "Citizens" in their names.

[@AlvaroMartinC]

@Tenjiecorner Citizens bank offers rates of up to 0.03% APY. There are many banks with the words citizens, citizen, citizen's, or citizens' in them. Could you be a little more specific?

[@bretsanderson7642]

I was just wondering about this topic. Thanks for doing a video on it, George!

[@chuck197]

George love your advice!! Gonna check out that online bank you mentioned on link. Thanks for your videos; love them like the Ramsey Show..

[@ultramegasuper11]

Lots of Info, reality based and entertaining. Wow. A KZbin video worth my time 😊

[@ronjr831]

Thanks for the advice. CD’s are offering 5% almost everywhere online though.

[@GeorgeKamel]

Agreed. I’d rather be conservative since many have fine print and many are closer to 4%.

[@ritagrindstaff2226]

I LOVE this channel! Hilarious and so informative!🙌🏼

[@kaelaleedaley]

GREAT video! Thank you so much - we are viewers from the UK who didn't realise what some of these savings accounts were when hearing about them on TRS. We looked into investing earlier this year but found the average returns were about 1/3 less than we are sure to make in a HYSA (and that was in a well-performing market!) Xx

[@Silverdragon517]

I use the cd ladder strategy and it works great

[@wealthbytes]

Need that money in a High Interest Savings. So many good options now.

[@dennis007]

I have used Fidelity Investments Spending & Save Account and have parked the money in SPRXX in there for many years. It’s basically a checking account earning SPRXX dividend rate. There is no string attached. AS of 6/12/23, the 7 Day Yield of SPRXX is 4.678%. The earning record of SPRXX is always on the top. For the CDs, Fidelity brokered CD rates are also on the top.

[@chazsmith6333]

Having a good sum of cash at hand can be very beneficial. Where I live, when Hurricane season arrives, if a big one drops then everything is out and possibly for 4 or more weeks. ATM’s are down and having that cash ready when you evacuate can be very handy. Even if you evacuate somewhere that has power and access to your bank account, you still have to go back home at some point. Thats a true emergency fund right there. The value is in it being extremely accessible when a true emergency hits and there’s no time to waste.

[@baseballfan9848]

Ted Lasso... Season 3 ... it lived up to what I expected. Favorite show.

[@Rigohinojosa15]

I really like the information man.

[@joelykins1884]

Liked and Subscribed! George, you are the best.

[@frederickvalencia4976]

I have a 07 camry and I love it! 😂

[@OffGridandOutdoors]

Wealthfront is good, UFB Direct is higher and has both a HYSA and a MM account option.

[@mymix1880]

Great video. Thank you George. Melanie

[@wittleMermaid13]

Gave a like for you having 2 of NSYNC's 3rd album. That's a dang good album! Oh, and the money advice is good, too. I use Ally Bank and Capital One 360 high performance. Both @ 4% now.

[@mmp495]

I love your wit!! Nice studio too. ❤

[@joshuahickey9196]

George...I loved your channel before. Then, not only did you play a clip of my second favorite Transformer of all Time, but you also played a clip from the 1984 movie when Galvatron is voiced by the legendary Leonard Nimoy. Now, I adore your channel.

[@GeorgeKamel]

🥰

[@dianaa4149]

What percentage of an emergency fund would you suggest be held in a traditional brick and mortar savings account? 5%? 10%?

[@eveexpertguides995]

Dude that little clip with the squirrel was hilarious

[@rbt1234567]

Disagree saying that CDs are not a good place to put extra cash. If access to money at regular intervals is needed they can be laddered. I carry 12 CDs carrying one months living expenses in each one with the interest paid monthly to a high yield savings account.

[@ebonylo.]

Just opened up the account! Thanks

[@JA-zh5xi]

For the last year money allocated for savings have been going into 4-week t-bills. With lots of bonds purchases happening over the last year I have t-bills expiring every week so it’s still very liquid and I’m getting 5%!

[@markbeiser]

I do a similar thing, but with the institutional class money market mutual funds my cash management account gives me access to with low minimum deposits. My path is not FDIC insured, and while really safe investments, it is technically possible for them to loose value, so wouldn't make the grade for what the point of the video is. Even though I've gotten the process of rolling back into the same funds almost completely automated, I've been tempted to simplify by just chucking it into a HYSA.😏

[@joeriveracomedy]

Ted Lasso? The soccer on nbc commercial from 2014?

[@JakeSpradlin2]

I work in banking… you’d be amazed how many people have crazy amounts of physical cash in their homes

[@SerErryk]

How would you know? If course they are going to say that. They don't want to be embarrassed that that $32 in that account is all they have to their name.

[@everardocalderon8720]

If the bank only pays you $2 dollars annually for a thousand dollars in a savings account what’s the difference?🤔

[@mmp495]

That's my dad. He does not want to fully disclose how much he makes with his rental properties.

[@billjones4986]

Yes mine is under my bed use a safe.

[@billjones4986]

Ya she avoids the in-laws she is from L.A!

[@savanahfondse6372]

You’re too funny 😂 omg. Thanks for the link!!

[@rommeljimenez4765]

Thanks for the insights George

[@robbieb.3398]

Love the funny stuff 😂

[@Eagleknight815]

Also, I enjoy my CDs in my '05 Chevy thank you very much 😂

[@tduck828]

It makes me nervous to put money in online banks. I love my money market at 4.75%. No strings for anything. I do have local checking accounts paying 5% but there are requirements but easy to do.

[@gloriaalex11]

There are a number of reputable FDIC insured online banks you could look at. But if you have a local banking relationship with 5% interest, good on you. 👍

[@tduck828]

@Gloria Alex yea but the problem with the 5% is there are requirements and is capped at $15k so that's a bummer.

[@Speedslip-bq2gk]

Agreed, ms duck...4.75 is solid + no strings. Eating more at home saves A ton, bye starbucks, fast food!

[@tduck828]

​@Speedslip-bq2gk yea I hate Starbucks. My Account actually has gotten higher. Now it's 5.2%! Woot

[@Frosty2014]

Thanks for the great content haha!! God bless :)

[@LeiaAOS]

I have my EF in an Ally MMA and I love it!

[@Speedslip-bq2gk]

You should list the info for people here. Sharing tips is good karma!

[@strawberryme08]

We are thankful you helped us learns of high yield savings account! We had no idea and we’re saving like crazy right now. We will get back a significant amount now monthly thank you! I can’t believe the back didn’t tell us about this 😑 so annoying.

[@johnpublic5169]

My bank offers Kasasa checking and it’s paying 5.00% APY. Direct deposit, electronic statements, & 10 debit card transactions per month are the qualifiers. I just keep the EF in there and not include it in the checking balance.

[@tduck828]

The requirements are a bummer though. I get almost that rate but zero requirements

[@donyemonroe4577]

(Kassa) ??

[@azucarmorena1117]

Thank you!

[@gokeymasterflex]

CDs right now are pretty good, have been making 5% with zero risk. It’s not my emergency fund it’s just a savings account

[@sbman436]

I'm saving for a down payment on a house using CDs. Emergency is in HYSA.

[@carolinemurdock3038]

LOL funny you linked Marcus by Goldman Sachs cause I also have this as my HYSA

[@gsmith5140]

I have an '09 Versa and I can play all of my cd's you ageist!! 🤣 Seriously, thx for the video. 😊

[@hikingchill9936]

Avoid CD’s? They’re giving you a risk free 6% at a lot of banks these days. Nothing wrong with putting extra cash in a CD ladder with a good chunk maturing every quarter.

[@Real_Grant]

He’s only saying avoid CDs for your savings account since you can’t easily access it. Keeping your money in a HYSA is good for savings and anything additional from a rainy day fund can definitely go into a CD at those rates

[@ninacook9162]

Good job George…

[@adventureseeking]

Hey George! Thank you for this channel. I’m saving in my sink fund a spot to FPU. Question: should I put my starter emergency fund in a high-yield savings account too?

[@Username-o5r]

CDs aren’t bad they just aren’t good for emergency funds

[@joemartnz]

Thanks George! How about making every dollar available to us viewers in NZ also (and yes, aware we can't link our banks, etc). Cheers

[@karihosny9420]

Can you give a brief overview of the FedNow program that is rolling out in July?

[@jasonk446]

I follow something similar. $1000 in regular bank savings account in case I have an immediate emergency. Regular emergency fund in Marcus currently earning over 4%. Then I have play money that I buy stocks, etfs, etc with. And, I also have some crypto. Thats a small percentage of my overall portfolio.

[@Superhyperaktive]

Amazing!

[@iamlordbernie]

Comedy and value at once. Too dope 😅😮😅

[@justaperson803]

You would make a great youth pastor

[@blujeans9462]

With interest rates finally getting some more traction, my banker suggested rolling my roths earning less than 2 percent into a (roth) annuity. This will be locked in at 5.15% for 5 years. Sure there are penalties for taking it out early, but that's the point of locking in your money, so you aren't tempted to take it out. You wouldn't do this with your emergency fund or your only reserve, but when the banks are only giving 4-5% for under 2 years, that's a sign that interest rates aren't going to increase or remain at these numbers.

[@LittleJohnShow]

I am going to open an account on Marcus using your link. I hate that Gazelle is getting shut down. I was looking forward to transferring all my savings to there once y'all created high yield savings accounts, but will do that with Marcus for my savings. Currently using my local credit union and the apy is only 0.1% which sucks and they also aren't federally insured so I think I should just keep my checking and $1,000 emergency fund there and move the rest of my savings to Marcus.

[@bshef3424]

.....we've shifted from Savings to using our Brokerages ....regardless of taxes - still better than the altrenative

[@justinlindholm2679]

What about using a money market mutual fund in a broken account to park your emergency fund?

[@lberhold]

Keeping it in the ETF SGOV is the best option.

[@Kakuren]

Whoa whoa this man knows Larry?! I love Larry but he's out for 3 months so I had to do my own car repair.

[@fiskenburg007]

With regards with stocks, find good, blue chip companies, purchase 100 shares of one, sell weekly covered call options and collect the premiums.

[@TS1023TS]

Why do banks or credit unions utilize money markets? What are the benefits for them? How are they able to offer better rates of returns to us just by us putting money in those accounts? Just don’t want something to happen to my savings account/emergency fund. Thanks!!

[@Eagleknight815]

Great video George but seriously NSYNC No strings attach CD UK release?! Dude, man card punched. Unacceptable 😂

[@GeorgeKamel]

To be honest, they weren’t my albums. I just thought it was too hilarious of a joke to pass up on

[@amandadrenter7690]

Is a HYSA good for a long-term savings account? Thanks for all you do, George!!

[@GeorgeKamel]

Yes, absolutely.

[@amandadrenter7690]

@@GeorgeKamel Thank you!!! I have learned so much from you. Keep up this awesome work you do!

[@janetours3712]

I have a Pay Pal savings account earning 4.30 percent currently. Best one I've found so far!! FDIC insured too!!

[@elcheekoful]

If you ever have to deal with PayPal fraud Dept. It's a big pain. From my experience

[@robertreitmanjr4413]

Takes too long to liquid, I had it too and wasn't fast enough if you need it before 48 hrs

[@janetours3712]

I just had to transfer 5000 to my checking and it took 24 hrs. Not bad!

[@punkbassandcovers]

If we're making N'Sync No Strings Attached puns...'You Just Got Paid' and if you put your money in tin cans 'That's When I'll Stop Loving You.' 'It Makes Me Ill' that George has the CDs of this album, clearly he needs a 'Digital Get Down.' High Yield Savings Accounts are good, 'This I Promise You.' 'I Thought She Knew' that this 'Space Cowboy' loves a good HYSA. 'It's Gonna Be Me' who will follow this 'No Strings Attached' advice. I'm done 'Bringin' Da Noise' now. 'Bye Bye Bye.' I couldn't resist!

[@alexislane7175]

Daaaaannngg 👏🏿👏🏿👏🏿👏🏿👏🏿👏🏿👏🏿👏🏿👏🏿🤣🤣🤣

[@punkbassandcovers]

@alexislane7175 I was hoping someone....anyone....would get this 😂

[@deborahjackson6108]

My 2016 Camry has a cd player. 😊

[@bryanbaker1890]

I like the videos but buddy I have whole life insurance with modern woodman along with term life insurance there. I pay $40 or so a month for whole life section. Started with $50,000 for whole life, then after a year it has over $50,500 on it. I can even withdraw the policy and surrender the difference and cash that check if I want. Another thing is I chose to invest in my own single stocks I handpicked. I have over $6000 profit in that.

[@ryanl3812]

No penalty CDs are my go to. High yield and take your money at any time. Leave it and get a bonus at maturity

[@me-myself-i787]

I think Treasury bonds are a good way to store your emergency savings. They're highly liquid, and they go up in value during a recession, which is when you're most likely to need your emergency savings. (As the Treasury lowers interest rates during a recession, your existing bonds with the higher rates become more valuable.) For savings beyond your emergency fund, stocks are better.

[@lauras.8088]

I have a HYSA at 5% but can only keep a limited amount that earns that much interest. Therefore, I also have a 12 month CD at 5%.

[@slelpssinal]

Can you list some of the best high yield savings account?

[@addis7247]

What online banks or credit unions you would recommend for a HYSA?

[@GeorgeKamel]

I mentioned this in the video towards the end.

[@addis7247]

Haha I just noticed the part where you said, "...You're gonna ask me in the comments..." Thanks George👍🏽

[@vebtran]

Real talk about that *Nsync third studio album

[@FighterDoc98]

You almost lost me at NSYNC....but morbid curiosity kept me going...

[@richardle7469]

Renters insurance that covers those appliances

[@LifeIsBetterWithLove]

Somce they only insure $250,000. What do you do with money above 70 million dollars? Real question. Because index, stocks, etc are risky as well. And who wants to put all their money into something like that just to hold?

[@MrBSchmitty]

We want MORE Home Alone clips! Lol

[@sarahshealthyrecipes]

Thanks for the great tips and explanations of the different ways to save! I had no idea what a high yield savings account was! I dabbled in the stock market when I got my first job at 15 cause my dad was into that sort of thing. I made some money, not enough to change my life but it did help me understand a little how the system worked and what could happen with proper investing.