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Many high-yield savings accounts, on the other hand, pay 10x that amount or more.
This will build up your savings even faster.
As with savings accounts, there are both traditional and high-yield money market accounts.
Thenational average yieldfor money market accounts, according to the St. Louis Fed, is just 0.64%.
However, high-yield versions can pay many multiples of that.
Automation
The key to any savings or investment plan even building an emergency fund is consistency.
Saving can be inherently difficult because there are so many competing demands for your earnings.
This is where automation comes in.
Self-Management
Being smart about your money is one of the best ways to boost your emergency fund.
Diverting all found money to your emergency fund is another great way to raise your balance fast.
This will help you reach that recommended three-to-six-months worth of savings rapidly.
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