Money Management

With American debt at an all-time high, keeping cash liquid is a good idea. Read on to learn more about moving CD funds to a HYSA. [[{“value”:”

Earlier this year, 5% or higher interest rates on CDs made this type of account look like an obvious win. After all, if you didn’t need ready access to that cash, you might as well have locked in the high rates that were on offer.

But as your CD balance grew, the rest of the world was changing. And that means you may find yourself needing that money back. In that case, you might want to consider opening a high-yield savings account (HYSA). Here’s why.

Interest might not be as important as liquidity right now

According to the New York Fed, Americans’ debt reached a record $17.8 trillion in the second quarter of 2024, and levels of credit card debt (and other revolving debt) have only risen since early 2021. That means that Americans should generally be prioritizing keeping cash liquid. That way, if an emergency comes up, you’ll be better-equipped to weather that storm without resorting to credit cards.

Even the best CDs are offering rates that are lower than HYSAs. However, this may change as rates drop in response to the Fed’s recent decision to cut its benchmark interest rate by half a percentage point.

But HYSAs offer something CDs typically don’t: The opportunity to earn competitive rates without sacrificing accessibility. And while CDs may require you to lock up that cash for months or even years to earn those high rates, HYSAs typically let you make several withdrawals per month (the actual limit will vary based on the account).

Interested in opening a high-yield savings account? Check out our list of the best high-yield savings accounts recommended by our experts.

Tips for moving CD funds to a HYSA

CDs come with terms, and that means you will typically pay an early withdrawal fee to access that cash before the maturity date. So it’s generally best to wait until that deadline unless you have a no-penalty CD.

In that case, you’d only have to wait until the CD is at least seven days old to avoid the federal minimum penalty requirement of seven days’ simple interest if you withdraw the cash within those first six days.

As for HYSAs, it’s important to look for options that meet your needs. This means looking beyond the APY. For example, you should consider the following:

Account fees: Many accounts are fee free, but some may charge a fee for account maintenance or even frequent withdrawals.Withdrawal limits: You may also have a cap on the number of times per month you can withdraw from a HYSA.Minimum requirements to earn the highest APY: You may be required to keep a certain balance in your account to continue earning the highest APY.Bonus features or offers: Some HYSAs may offer additional perks, such as a temporary rate increase or even a cash bonus for signing up, which can make it more valuable than other accounts.

You should also have a goal for that cash. For example, it may be the foundation for your emergency fund, or it may be savings for a specific goal, like buying a house. If the account isn’t meeting your needs, that could be a sign it’s time to switch banks.

CDs can have their place in many Americans’ financial lives. But it’s important to hedge against potential threats, like credit card debt. By switching to an account that gives you easier access to your cash, you’ll be better prepared to manage the inevitable and unpredictable issues that life can throw at you.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Avoid these common mistakes with your credit card points and maximize rewards for travel, dining, and more. Learn how to start optimizing now. [[{“value”:”

Credit card points — those magical little rewards that have the power to whisk you away to dream vacations, score first-class upgrades, or even cover your grocery bill. But despite their potential, people often make critical errors when it comes to using them.

If you’re not careful, your hard-earned points might end up wasted on low-value redemptions or (gasp!) sitting unused for years. Here are some of the most common mistakes people make with their credit card points — and how to avoid them.

1. Redeeming points for gift cards or merchandise

Picture this: You’ve racked up a solid 50,000 points, and you’re feeling rich. You head to your credit card’s rewards portal, and what catches your eye? A $100 gift card to your favorite store! Seems like a great deal, right? Wrong.

This is the classic rookie mistake. Gift cards and merchandise offer some of the worst value per point. If you cash in your points for a gift card, you’re probably getting around $0.002 to $0.01 per point.

Compare that to redeeming for travel, where you could easily get $0.029 per point (or even more with strategic redemptions), and you’ll realize just how much value you’re leaving on the table. Your points deserve better.

The fix: Focus on redeeming points for travel. If you’re not a jet-setter, at least consider using points for statement credits or paying off part of your balance, which tends to give you slightly better value.

Ready to turn credit card rewards into hotel stays, flights, and more? Check out The Ascent’s list of the best travel rewards credit cards.

2. Ignoring transfer partners

If you’re simply booking flights through your credit card’s travel portal, you’re missing out on one of the most lucrative ways to use your points: transferring them to airline or hotel loyalty programs. When you transfer your points to partners, you open the door to elite-level redemptions, including business and first-class tickets that can be worth thousands of dollars for a fraction of the points you’d spend directly with your card.

Here’s the thing: Not all points are created equal. If you transfer to the right airline, the same 60,000 points you use to book a boring coach seat through your card’s portal might get you a lie-flat seat in business class. It’s like trading a packet of ramen for a five-course meal — you just have to know where to spend your currency.

The fix: Learn your card’s transfer partners, find out which airlines or hotels offer the best value, and start moving those points around! A little research goes a long way here, and some online tools and communities specialize in figuring out the best redemptions. You can thank me from your business class seat.

3. Forgetting about bonus categories

You’re out to dinner with friends, and someone suggests you split the bill. So, naturally, you whip out your favorite card — only to realize later you could’ve earned double (or even triple) the points by using a different card that gives extra rewards for dining.

This happens all the time. Credit cards often come with bonus categories that can earn you 2x, 3x, or even 5x points per dollar on certain purchases like dining, travel, or groceries. But if you’re not paying attention, you’ll miss out on these bonuses and essentially leave free points behind.

The fix: Take five minutes to familiarize yourself with your card’s bonus categories. Some cards rotate their categories every quarter, while others keep them the same year-round. Either way, knowing where you can maximize points will make a huge difference in the long run. You can even set reminders or use apps to track which card to use for what so you never miss a multiplier again.

Ultimately, credit card points are a powerful tool, but they can also be a minefield of missed opportunities and lost value. Avoid these common mistakes, and you’ll be booking that luxury vacation in no time — without breaking a sweat.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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The average 30-year mortgage rate has fallen to about 6.15%. But find out how to do even better. [[{“value”:”

The average 30-year fixed-rate mortgage in the United States has a contract interest rate of 6.14%, according to the latest data from the Mortgage Bankers Association. This is welcome relief to home buyers, as it is sharply lower than the 7.9% peak we saw in late 2023.

While the average rate can save the typical U.S. home buyer thousands of dollars compared with 2023’s interest rates, that doesn’t mean that’s the rate you should settle for. In fact, there are two simple strategies you can use to make sure your mortgage rate is even lower than the average.

Shopping around can save you thousands of dollars

Without question, the most common mistake I see first-time home buyers make is simply accepting the first interest rate quote they get.

You might be surprised at how much of a difference shopping around for a mortgage rate can make. Different mortgage lenders often offer different mortgage rates to the exact same borrower. Usually, the difference is no more than one-eighth or one-fourth of a percentage point, but this can make a world of difference in overall costs.

As an example, if you’re buying a $500,000 house with a 20% down payment, and two lenders offer you rates of 6.25% and 6.125%, respectively, on a 30-year mortgage, it might not seem like it makes much of a difference. But the lower rate will save you $11,880 in interest over the 30-year term of the loan.

There’s no good reason not to apply for custom rate quotes with several lenders. It won’t even hurt your credit score — there is a special rule in the FICO formula that is designed to encourage rate shopping.

Depending on the particular version of the FICO® Score a lender uses, any mortgage inquiries that take place during either a 14-day or 45-day window (used by the newer version of this scoring system) are considered to be a single credit inquiry, regardless of how many mortgage applications the borrower submits. So to be safe, complete your applications within a 14-day window.

See how low your rate can be by shopping around. Click here to check and compare rates with some of our favorite mortgage lenders.

Work on your credit

Borrowers with excellent credit scores often qualify for mortgage rates that are significantly lower than the national average. While you can qualify for a conventional mortgage with a FICO® Score as low as 620, lenders typically give their best interest rates to borrowers with scores of 760 and above.

You might be surprised at the difference good credit can make. It isn’t uncommon to see a gap of a full percentage point or more between the average rates for customers with fair credit and those with excellent credit. I’ve already started to see rates well into the 5% range for borrowers with the top scores.

So, if you want the best possible mortgage rate, it could be a smart idea to take some steps to improve your credit score. Building truly great credit takes time, but there are some quick steps you might be able to take to have a positive impact, such as:

Paying down credit card debt more aggressively to lower your credit utilization percentage.Deal with any old unpaid collection accounts on your credit (if you have any).Pay your bills on time, every month. If your credit history is relatively young, even a few months can make a difference.One credit hack you can try is to ask your credit card companies to increase your limit. Doing so also improves your utilization (your debt as a percentage of your credit limit) without you paying an extra dime.

The bottom line

The average U.S. home buyer gets a mortgage rate in the low 6% range right now, but if you shop around and get your credit score into the top tiers, you could do significantly better. Even a relatively small percentage difference in mortgage rates can save you thousands of dollars or more over the long run, so it’s worth the time and effort to get the lowest rate possible.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Are your B2B marketing emails going unanswered? A new survey found a big reason why. See the best time to reach B2B customers. [[{“value”:”

Small business owners are known for their tireless work ethic which sometimes includes working weekends. But should your small business marketing software start working weekends, too?

If you’re selling to business-to-business (B2B) customers, a new survey from DesignRush suggests you might want to start doing more marketing outreach during weekends — because B2B buyers are paying attention.

B2B buyers aren’t only opening emails and reading blog content and white papers during regular business hours. Weekends could be the perfect time to build relationships with your prospective customers.

Let’s look at the results of this new DesignRush survey and what it means for small business B2B marketing.

DesignRush survey: 23% surge in weekend website traffic from B2B buyers

Small business owners and their marketing teams often try to figure out the best way to reach prospective clients. When is the best time of day or day of the week to send emails, publish new content on your small business website, and otherwise get in front of the people who you’d love to connect with about your company’s products and services?

There’s no one right answer or secret sauce for B2B marketing in every business and industry. But a recent survey from agency marketplace DesignRush showed a surprising result: a 23% uptick in weekend website traffic from B2B buyers.

Three key takeaways for small business marketing

This recent survey from DesignRush tracked B2B website traffic based on 950,000 U.S.-based search queries. Here are a few key insights that might affect your B2B marketing strategy.

1. B2B customers are doing more research on Saturdays and Sundays

Building relationships with customers and helping people through the buyer’s journey of researching and understanding their options and potential ROI of buying from you can take time. Weekends are becoming a bigger part of this B2B buyer’s journey.

Your small business website, informational content, and marketing emails might be getting more attention on Saturdays and Sundays, not just during the regular 9-5 hours on Monday-Friday. Plan your publishing schedule and email marketing accordingly.

2. B2B buyers are more focused on weekends

The DesignRush study also found that when B2B buyers are looking at marketing content on Saturdays and Sundays, they tend to be more “intent-driven.” B2B buyers spend more time with marketing content on weekends, with longer sessions on websites and higher conversion rates. If you can get customers to visit your small business website on a weekend, you might see better engagement and bigger sales results.

3. Go beyond “weekday mindset”

If you’re a small business owner, you know what it means to be a busy person whose time is valuable. Space on your Monday-Friday calendar is precious. It’s the same way for the business decision-makers and company executives you’re trying to reach with your B2B marketing — these people are often swamped and hard to reach on weekdays.

Instead of thinking from a Monday-Friday lens, get creative with a “weekend mindset” for your B2B marketing. Consider these questions:

Can you write special headlines to get your emails opened on a Saturday?Is your content easy to read while people are on a mobile device?Are your calls-to-action easy to click on for someone who’s away from the office, at a golf course, or getting on a plane?Can you experiment with different times of day during weekend email outreach?

If your small business is in the B2B space, consider sending more marketing emails, publishing more content, and doing more marketing activities on weekends. These might be the best occasions to reach your busy prospects at a moment when they have some free time and clear headspace to really focus on your sales pitch.

Bottom line

Any small business that sells to other businesses with B2B marketing needs to think about targeting more marketing outreach for Saturdays and Sundays. Your company can’t afford to take any “days off” from marketing.

This doesn’t mean you should bombard your prospects with too much email or invasive outreach. But pick your spots, be open to experimenting, and time your approach in a way that meets people where they are — and sometimes, that’s on weekends!

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

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Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Buying gas at Sam’s Club can be a great deal. Here are a few things you might not know about it. [[{“value”:”

The words “surprising” and “gas” don’t often get mashed together because what can be surprising about filling up your vehicle with gas?? It turns out, a lot if you’re filling up at Sam’s Club.

Having a Sam’s Club membership can be great for your budget, but there are a few facts you might not know about fueling up at the discount warehouse club. Here’s what you need to know.

1. It’s about 7% cheaper than the average gallon of gas

I knew Sam’s Club gas was cheaper, on average, than filling up at local stations, but I had no idea how much cheaper it was until I compared its prices to my closest station.

I live downtown in a small city, and my closest gas station is within one block. It’s convenient if I even run out of gas, but it’s also a little more expensive because of its location. The cost of a gallon of unleaded gas is $2.88 right now. Meanwhile, my nearest Sam’s Club gas station is charging $2.69 — that’s $0.19 cheaper!

Put another way; if I filled up at Sam’s Club for the average number of 443 gallons of gas Americans use every year driving, I could save more than $84 per year on gas. That’s far more than the basic Sam’s Club membership price of $50.

Related: Click here for our top picks for gas and grocery credit cards, including one with up to 6% cash back.

2. You can use the Sam’s Club app to pay for gas

I love how convenient it is to use my phone to pay for purchases these days and Sam’s Club brings the convenience right to its gas pumps.

You can use the Scan & Go feature in the Sam’s Club to scan a barcode on the gas pump, pay for your gas, and get on your way.

What’s great about the Sam’s Club app is that you can pay for more than just fuel with it. You can use the Scan & Go feature to buy all of your in-store items (without having to wait in line!). Just pay in the Sam’s Club app and show your exit code to an employee on the way out. Now that’s convenient.

3. You won’t earn 2% cash back on gas

You may already know that Sam’s Club offers a Plus membership that comes with tons of perks, including 2% cash back. However, I was surprised to find out that Sam’s Club Membership Plus doesn’t earn 2% cash back on fuel purchases. That’s disappointing for members who pay the $110 fee for the Plus membership.

However, you will earn 2% cash back on in-store purchases, up to $500 yearly. Here are some additional Plus membership benefits:

Free delivery of eligible orders of $50 or moreEarly shopping hoursFree curbside pickup$0 prescriptions on 10 select generic medications

Pssst, looking for more rewards? Check out our top-rated cash back cards to earn money back, no matter where you shop.

4. The fuel quality may be better at other wholesale clubs

There’s no shame in not thinking about fuel quality when you’re filling up. But if you are interested in having the best fuel in your vehicle, Costco could be a better place to buy it.

Costco’s gas is rated a Top Tier fuel, which means it has specific additives that have been proven to help clean engines. The result can help your vehicle maintain fuel efficiency and run more smoothly.

Sam’s Club gas stations don’t sell Top Tier fuels, so if that’s important, you might opt for its rival’s gas stations instead.

Buying gas at Sam’s Club could cover the cost of your annual membership, depending on how frequently you buy gas. That alone makes Sam’s Club gas a good deal and a great benefit if you’re looking for a way to stretch your budget. Just don’t expect to earn cash back with Sam’s Club Plus when you fill up.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Dropping interest rates may be good news, but they signal us to take specific financial steps. Read on for four of them. [[{“value”:”

There was a collective sigh of relief when, on Sept. 18, the Federal Reserve cut the federal funds rate by half a percentage point. After more than a year of higher interest rates, knowing that lower rates are on the way is welcome news. But what will those lower rates do for you? How can you benefit?

If you’re wondering about your next steps, these four suggestions can help you position yourself for when rates drop even more and leave more money in your checking account at the end of each month.

1. Pay down debt

We’re no Nostradamus, but the Federal Reserve has signaled that it expects two more rate cuts this year — one in November and one in December. And according to Fitch Ratings, analysts expect four more cuts throughout 2025. While we can’t say for sure how low that would make consumer interest rates, we can tell you that preparing for it now puts you in a better position to take advantage of those rates when they arrive.

If you carry any high-interest debt, now is the time to pay it down. We’re not suggesting that you trade old debt for new. In fact, once you pay off the old debt, the ideal situation would see you remain debt free. However, if that’s not a reality, here are two ways paying off current debt can help.

Paying down debt lowers your credit utilization ratio, and lowering that ratio helps boost your credit score.Getting rid of old debt simplifies borrowing money when you genuinely need it. Imagine your sump pump backs up, and your basement floods. However, your standard HO-3 policy excludes sewer and sump pump backups, and you’re looking at a $5,000 bill for cleanup and repairs. Let’s say you take out a personal loan or put the repairs on a credit card. With old debt gone, you should find it easier to make payments. Equally important, you should score a lower interest rate.

The less debt you carry, the easier it’ll be to borrow money when you need it. If you need help getting started, a debt payoff app can lead the way.

2. Build up savings

If analysts are correct, we’ll have experienced seven rate cuts by the end of next year. Although we can’t say exactly what the average mortgage rate will be or how much you’ll pay to finance a car, it’s safe to assume that credit will be much less expensive than it is now.

If you’ve been putting off a big purchase, like a vehicle, land, RV, boat, or new home, now is the perfect time to build up your savings account. It’s not only essential to have enough cash put away to cover emergencies but also to have enough to make a healthy down payment on your next big purchase.

Having a hefty down payment available helps in two ways:

Improves your odds of loan approval because lenders like it when borrowers have “skin in the game.”Lowers your monthly loan payments, freeing up money to do other things, like invest for retirement.

Looking for the perfect account to house your down payment or other savings? Click here to see our curated list of the best high-yield savings accounts and open one today.

3. Make sure your credit report is in good shape

Imagine having an emergency that leads you to apply for a personal loan. Errors on your credit report could impact your credit score and, ultimately, your ability to land a loan.

When Consumer Reports and WorkMoney had 4,300 people check their credit reports, 44% found errors. Because your overall credit score is based on information found in your credit reports from the big three reporting agencies — Equifax, TransUnion, and Experian — any little mistake can make a difference.

You can order a free copy of each of your reports through AnnualCreditReport.com. If you find any mistakes, no matter how small, dispute them with the reporting agency. It has 30 days to prove their information is correct or remove it from your report.

If there’s any chance you’re going to want or need access to credit in the next year or two, now is a great time to make sure everything is in order with your credit reports.

4. Lock in a CD rate

One drawback of a fed rate cut is lower rates on deposit accounts, like certificates of deposit (CDs). That said, it’s still possible to find a CD rate of over 4%. It may not be as high as it once was, but it’s still much higher than we usually see.

Ready to earn a solid return in an FDIC-insured CD? Click here for The Ascent’s round-up of the best CD rates to pick one.

Each time the Fed drops the federal funds rate, financial institutions tend to lower the APY on CDs and other deposit accounts, such as high-yield savings accounts and money market accounts (MMAs). In fact, banks and other financial institutions don’t always wait for the Fed to make an actual drop. Sometimes, just the rumor of an upcoming decrease in the rate is enough to spur them to reset their rates.

If you’re looking for a safe place to put money you don’t need right away, now is the time to take advantage of rates that remain historically high.

No one can see the future, but we can predict patterns based on generations of U.S. financial maneuvers. The significant advantage of looking back on history is the ability to make the kinds of moves most likely to benefit us.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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