How to get the most out of your cash when inflation is running hot
CBSN
Stocks may be the best way to protect your savings from inflation, but it's also wise to keep some cash on hand for emergency funds, expenses and short-term financial goals. Yet while there's only so much you can do to protect your cash hoard in today's low-yield, high-inflation environment, there are ways to maximize yield on your cash to minimize the effects of inflation.
Online savings accounts have long been considered a great place for your cash. They're as safe as savings accounts at brick-and-mortar banks, but they have a history of rates that are up to eight times higher. Online savings account rates today may be less than the inflation rate today with yields so low, but they remain a good option for your emergency fund.Authorities made two gruesome discoveries Tuesday after a Missouri woman walked into a police station and told officers that she fatally shot one of her children and drowned the other, officials said. Jefferson County Sheriff Dave Marshak said at a news conference that authorities believe both children were killed Tuesday morning.
Strong storms with damaging winds and baseball-sized hail pummeled Texas on Tuesday, leaving more than one million businesses and homes without power as much of the U.S. recovered from severe weather, including tornadoes, that killed at least 24 people in seven states during the Memorial Day holiday weekend.