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Optimal Finance Daily - Financial Independence and Money Advice

3053: The Power of an Online Only Savings Account by Tiffany Aliche of The Budgetnista

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.41.3K Ratings

🗓️ 25 February 2025

⏱️ 9 minutes

🧾️ Download transcript

Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3053: Traditional savings accounts might be holding you back. Tiffany "The Budgetnista" Aliche highlights the power of online-only savings accounts, explaining how they offer higher interest rates, fewer fees, and better financial discipline by keeping your savings out of easy reach. Learn how to set one up and maximize your money with smart, simple strategies. Read along with the original article(s) here: https://thebudgetnista.com/the-power-of-an-online-only-savings-account/ Quotes to ponder: "An online-only savings account is like a financial gym - it helps strengthen your saving muscles by keeping your money separate from your daily spending." "When your savings account is harder to access, you're less likely to dip into it for impulse purchases." "Online banks often offer interest rates that are 10 to 20 times higher than traditional banks. That means your money grows faster - without any extra effort." Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Race the rudder. Raise the sails. Raise the sales.

0:04.0

Captain, an unidentified chip approaching. Over.

0:07.0

Roger that. Wait. Is that an enterprise sales solution?

0:12.0

Reach sales professionals, not professional sailors.

0:16.0

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0:21.4

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0:26.7

That's LinkedIn.com slash lead. Terms and conditions apply.

0:31.0

This is Optimal Finance Daily, the power of an online-only savings account by Tiffany Aliche of the budgetista.com.

0:41.0

Saving money isn't always fun. There, I said it. And when you have to rely on yourself to take the money

0:48.2

that's sitting oh so prettily in your checking account and manually move it over to a savings account at your same bank,

0:56.8

a few doors down from your forever BFF checking account. It's even less fun. The usual cycle is to

1:04.9

unhappily move a few dollars over from checking to savings when you remember, let it sit there in savings for a bit,

1:13.4

and then end up transferring it back to your checking account because of a new want or a need

1:18.4

that's going to cost a few more bucks than you have available in your checking account.

1:23.2

Time to break the no save cycle, yes? Especially now, in these uncertain economic times, savings

1:30.9

should move to the top of the to-do list. Why? Because having money tucked away in savings

1:37.1

is a key component to help you ride the waves of any future economic turbulence. Great news. I have an easy, peasy solution to help

1:47.0

you overcome all the savings drama. It starts with your savings mindset. Savings mindset.

1:55.6

One of the biggest obstacles to successful saving is you. Yes, you. Taking yourself no shade out of the equation

2:04.8

is key to sticking to your savings goals. Many of us have the mindset that saving is hard,

2:11.4

but it doesn't have to be. A really great and effective way to tackle the stress of it all is to take

2:17.3

small, simple, and automated way to tackle the stress of it all is to take small, simple, and

...

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