Keep up inflation by taking advantage of competitive high-yield savings accounts

If you’re not keeping up with inflation, you’re losing purchasing power -- but there is good news for savers: top-savings yields are actually outpacing inflation. With the threat of a potential recession, it’s the perfect time for people to think about saving now. How can Americans take advantage of competitive yields to keep up?

Matthew Goldberg, Bankrate Analyst, joined KPRC 2+ at 7 to answer that question and more.

Here are seven reason’s why keeping up with inflation matters, according to Bankrate.

1. A dollar today won’t buy as much in the future
2. The highest savings yield doesn’t usually top inflation
3. But you still want the highest APY possible
4. The average savings yield hasn’t topped inflation in over 7 years
5. You need to factor inflation into retirement planning
6. Inflation isn’t likely to go away
7. High inflation and market losses were a double whammy in 2022

Goldberg explains more in depth in his interview on KPRC 2+ at 7.

Read more about how top high-yield savings accounts are now beating inflation and why that’s so important.