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Bankrate helps you find the latest deals on savings accounts and learn strategies to maximize your yield.

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Explore savings basics

A woman does her budgeting.

How much should I save each month?

The amount of money you should save each month will vary based on your goals. Here’s what to know.
By Sheiresa McRae Ngo
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7 low-risk ways to earn higher interest

It’s a low interest rate environment, but there are ways to earn more on your money.
By Karen Bennett
7 min read
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7 top reasons to save your money

Most people know they should be saving a portion of their income, but they might not grasp all of the benefits of doing so. Saving is an important habit to get into for a number of reasons — it helps [...]
By René Bennett
6 min read

Build good budgeting habits

TRY THIS

52-week money saving challenge

Follow this plan of making weekly deposits into your bank account, and you could save $1,378 by the end of the year.

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SAVINGS

Bank accounts with budgeting tools

Choose a bank account that helps you develop healthy spending habits with built-in digital budgeting tools.

SAVINGS

Ways to save money on a tight budget

Even on a limited budget, small intentional changes can go a long way to help you build a savings cushion and have greater peace of mind.

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SAVINGS

Best money-saving apps

Read up on top available rates and national average trends over time from Bankrate’s weekly survey of banks and credit unions.

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Weekly Savings Rates

Bankrate consistently has offers well above the national average to help you earn more on your savings.

Bankrate Partner Average

4.06%APY
VS

National Average

0.60%APY

Experts in all things banking

Our expert writers and editors bring you timely news and reliable information - backed by data and first-hand experience.

About Bankrate's team
Greg McBride

Greg McBride, CFA Arrow Right Icon

Chief Financial Analyst

Sarah Foster

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Principal U.S. Economy Reporter

Mark Hamrick

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Senior Economic Analyst

See how much your savings can grow

Bankrate can help you capitalize on the current high interest rate environment. Enter your expected contributions and APY to see how much interest your savings could earn over time.

Months
Years
    Initial DepositTotal Contri...Interest Earned
    Total savings breakdown:
    		Interest earned $ 5,803.89
    		 Total contributions + $24,000
    		 Initial deposit + $10,000
    Your total savings
    $ 39,803. 89

    The average APY in the U.S. is 0.6%. Enter an APY to see how much you can save, or choose an APY from one of our partners.

    Learn more
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    What is a savings account? Definition, how it works

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    How to open a savings account: 7 steps to take

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