Nathan Barry tells business owners to move cash from zero-interest checking into high-yield savings earning 3% APY, which can generate tens of thousands annually. He also recommends switching from a Chase debit card to a rewards credit card to turn everyday expenses into extra income.
If you go hard, I'd probably add tens of thousands of dollars a year doing this. If you're a business owner and by business owner, I mean you could have a blog, a podcast, a newsletter, you're making some money. Please don't leave that money in a Chase checking account. At least today there are high yield savings accounts that will pay at least 3%. I have met multiple creators with six figures of cash sitting in a checking account earning zero. Similarly, if you set up that Chase checking account and they sent you a Chase business debit card, please don't put all your business expenses on a Chase Business debit card that's earning 0%. At present, you know, there are many business credit cards that will reward you incredibly well for opening and spending on them. As a solopreneur, if you're running your business by yourself, the ability to use all of the spend you have on your business to generate, you know, rewards, probably to add thousands of dollars a year.
