Chasing the highest savings account rates wastes your time. Moving $5,000 from 3.5% to 4.5% interest gets you about $50 a year, or $5 a month. Focus on bigger financial moves instead.
By the way, quick warning. A lot of people become obsessed with chasing rates. They want to find the savings account that gives them the best rate on earth. Let me give you an example why this is so dumb. If you have $5,000 in an account earning 3.5% versus 4.5%, you know the difference? $50 for the whole year. We're talking like $5 a month. Why are we talking about this?
