July 23, 2024
Americans’ personal savings just hit $1 trillion. What’s the best place to store your cash — CDs, I-bonds or online savings accounts?

Americans’ personal savings just hit $1 trillion. What’s the best place to store your cash — CDs, I-bonds or online savings accounts?

People are cutting back on their spending and putting money aside for a rainy day.

That’s according to data from the U.S. Department of Commerce released Friday. The personal savings rate — personal savings as a percentage of disposable personal income — rose to 5.1% in March, up from 4.8% in February.

And the personal savings rate hit $1…

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