Part 2/7:
First on the list is knowing where—and how—your money is held. It's essential to scrutinize the interest rates offered by major banks. Many traditional banks, like what we might call "Bank of Scam America," offer alarmingly low interest rates on savings accounts, often hovering around 0.4%. In contrast, a simple search could reveal that other institutions provide a much more rewarding interest rate, often around 5%.
For instance, Treasury bills—considered a secure investment option—can yield about 5% currently. If your bank isn't matching that, your money isn’t working hard enough. Consider moving your funds to a high-yield savings account or a brokerage firm that invests in these treasury bills. It’s about leveraging that money whenever possible without the slightest hint of risk.