blessings. my trategy is as follows: cit and ally, cit for building up, ally for sinking and other savings goals.

Thank you for this video review. In a new online world full of AI Bots , A real human speaking to the camera is the most refreshing thing to see recommending. Take care!

I get 5% interest no minimums with Wealthfront!

No fee on a wire transfer is amazing. You don’t see that often. This was so helpful. Thanks for the review.

Thanks for the video, Marissa!

But you can use the cit echecking, they still pay you 0.25 just to keep the money there. The good thing is that you can use the echecking to pay your bills

Had a CIT Bank account with funds on deposit for over a year. Then I tried to wire 30% of the balance to escrow to close on a real estate purchase. Wire denied because I changed phone carriers two weeks ago... same number, just a different service. Rep told me this was policy and wires would be blocked for SIX MONTHS. They agreed they had confirmed my identity, but claimed it as policy. I was able to transferred funds out via ACH and get a bank check in the mail which will both have to clear from my local bank. Fortunately I have time on this purchase, but I am closing the CIT account.

@Jsonshotit

Ай бұрын

That just sounds like good security reasons, I’m pretty sure there’s scams like that where people get the same phone number just different carrier to get access to your banks and for example high yields savings

Thank you!

Thank you so much, very informative!

I had UFB direct I am okay with that no issue

Can you share your budget spreadsheet format?

Advice needed* I have a friend who has about $550 to invest. It was a deceased relative who wanted this to happen and she’s trying to choose where to invest it so it will grow. Any ideas?

How is the customer service?

Great video! Do you and your husband have joint access to your CIT HYSA? I’m looking to open a joint savings so I wanted to make sure! I was doing research and found that Wealthfront doesn’t have it.

@dianamitchell6673

Ай бұрын

That's been my issue too

Hello! So, say I open my account with $10,000. Then say I put in $5000 more in the middle of the year. Would that $5000 additionally be counted for interest in the next year? Or start when I deposit it?

@theoriginallacey

2 ай бұрын

Interest is compounded daily, pays out monthly.

I'm assuming it is still a good trade off even though there are tax implications for the interest that you earn?

@TheBudgetingWife

4 ай бұрын

For sure! You'll get a statement at the end of the year to use to file at tax time. So you will pay taxes on the interest at income. But still netting out earning more money!

I had a question regarding the platinum savings account, lets say hypoteticaly I were to open a account and I was under the 5k limit on it with the %0.25 rate, once I slowly got to the 5k limit in the account would it change to %5.0 Rate or will it still be at the %0.25 rate from when I open it?

@tanprisouple

Ай бұрын

once you have $5k+ in the account, it will chance to the 5%

THANK YOU THAT WAS INFORMATIVE VIRGIN ISLANDS PEACE 🙏🏽

everytime i try to sign up it will let me put info in then go back to same page and retype everytrhing again wont let me open !

@TheBudgetingWife

3 ай бұрын

So weird! Can you try a different browser? Maybe just having a site issue right now.

I want an account that I can also use to pay my bills (basically use it like a checking account). Is there such an account?

@EuEricZuhri33

3 ай бұрын

Yes

I am curious how much money do you need to put in the CIT Bank to get almost $900 in interest. I just opened with CIT 1 month ago the platinum but can only put in $5000.

@firefalcoln

3 ай бұрын

Do the math. $900 x 20 (for the 5%), and multiply that by 12 to account for that total being 1 month of 12 for the year. It’s about $216,000. Although she showed that it was actually in the high 800s that she was getting per month. So around 210K.

@ryanrussell7679

2 ай бұрын

I get around the same as her from cit it's definitely around 220k

Do they have Zelle?

@EuEricZuhri33

3 ай бұрын

Yes

if I use your link, how long will I be receiving the extra 1%??

@TheBudgetingWife

9 күн бұрын

My link doesn’t give an extra 1%. You’ll just get the current rate that they have posted. Right now it’s 5%. 😊

Can I open the high yield savings account for my toddler and get the 5%?

@elizabethperez1586

3 ай бұрын

What did with my capital one account was that I putted the account under my name and I add my girls under if just in case something happens to me like we never know right?…so I’m guessing that’s I good idea too

@ociemoore1

3 ай бұрын

@@elizabethperez1586 CIT has an option for toddlers.

@lyndajones1133

2 сағат бұрын

authorized user? look it up. you probably dont want to saddle your kids with the concept of debt.

Do you know how long it takes to do wire transfers with CIT?

@skylar6818

3 ай бұрын

It depends on your bank , I think it took me less than a week

@ServeMySoul777

2 ай бұрын

Mine took around two weeks to become available funds

Buy money market mutual funds with a broker. They pay the highest interest.

Why you didn’t mention about paying taxes? Like the most of ppl who does these type of videos recommending high yield savings accounts never mention bout “you gotta pay taxes” how come? I don’t get why not mentioning it’s very important

@TheBudgetingWife

3 ай бұрын

I was not intentionally trying not to include it… just forgot to mention because it shouldn’t be a factor in deciding whether or not to open a HYSA. Yes; you get a statement at the end of the year and pay taxes on your earnings. But it seems like a no-brainer to make more money. You’re still coming out ahead.

@islandgirl192

2 ай бұрын

That’s a given. Always have to pay taxes on income.

@ottom.3094

2 ай бұрын

You buy and sell a home - you pay taxes. You win at the casino - you pay taxes.

@elizabethperez1586

2 ай бұрын

@@ottom.3094 bout house yes bout casino I have no idea cause I don’t play same with savings accounts I had no idea until I opened one cause the videos I watched no one mentioned, I DO NOT KNOW EVERYTHING

@cannotbeshaken7889

11 күн бұрын

Example: If you made $500.00 in interest for the year, then you would pay $50.00 of that to the IRS. That is not a lot. Making $450.00 of free money is better than making zero money.

Awww i thought it was 5.05% every month man i got my hopes up