Earning the best rate possible on your savings is crucial — cash sitting in a standard savings account loses value over time due to inflation, but a competitive rate can preserve your purchasing power and help your balance grow faster. Even if your savings account balance is small, a high-yield savings account (HYSA) can still make a meaningful difference. Higher interest rates help your money grow faster than it would in a traditional account, and the power of compound interest means the sooner you start ...