New accounts aim to stop inflation from eroding your savings. But you have to work for your money

New accounts aim to stop inflation from eroding your savings. But you have to work for your money

Phil Ashley | Stone | Getty Images

Chances are, your savings are getting eaten up by inflation.
That is because the average interest rate on a traditional savings account is 0.1% annual percentage yield. Meanwhile, the U.S. inflation rate is currently 1.7%.
To help combat that problem, more companies are providing high-interest accounts to help you get a higher return on your money.
And for some…

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