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Maximize your cash: Despite climbing interest rates, a significant portion of America is still spending. This has caused high-yield savings accounts and money market funds to now earn returns above four percent, with short-term Treasuries (T-bills) earning as much as five percent. As such, these savings vehicles might be beneficial for you to consider making the most bang for your (liquid) buck.

Many online high-yield savings accounts can be linked to your checking account, allowing you to transfer cash back and forth within a 24-48-hour timeframe. Additionally, T-bills allow you to lock in current rates for up to a year, but are best utilized for cash you don’t anticipate needing for at least three months.

We at Howard Bailey have also professed the value of cash in your financial plan, and today, it’s even more valuable. It’s also important for you to keep in mind there are many different options that may better leverage your “safe” money than the bank.