Getting Started with Money

Once the terms "earnings" and "savings" are in the usable vocabulary of your teen or young adult (18 years and up), the next thing you want to teach them about is opening a HYSA - high-yield savings account. Without this, their earnings are going to make their exit nearly as fast as they are earned. If they have even the slightest positive outlook on the benefits of saving, then this is the ideal time to introduce them to their first HYSA.

My favorites are public.com and robinhood.com but there are others to choose from as well. Interest rates fluctuate with the prime rate, and are currently 3.3% - 3.5% APR.

Each has a nice website interface but also clean, easy to use apps.

For Public, use this referral link with your family members 18 or over to get started on your high-yield cash account (you can also get $20 in free stock as a bonus if you deposit $1000 or more)

For Robinhood, use this referral link to get started