Disclaimer: This Inside South Florida segment is sponsored by Vanguard. All opinions and views are of the advertiser and does not reflect the same of WSFL-TV.
When it comes to saving money, setting clear goals and making strategic financial decisions can make all the difference. Andrew Kadjeski from Vanguard joined Inside South Florida to share insights on how individuals can jump-start their savings and maximize their returns in 2025.
The first step to effective saving is establishing a clear goal. Before deciding where to store your money, it’s important to ask yourself what you’re saving for, how much you need, and what your timeline looks like. According to Andrew, a common financial goal for many people is building an emergency fund. Vanguard recommends setting aside at least $2,000 for unexpected expenses to ensure financial stability.
Where you store your money is just as critical as how much you save. Many people keep their savings in traditional bank accounts for years without realizing they are missing out on better interest rates. Andrew pointed out that the average savings account in the U.S. today yields less than 0.5%, meaning that for every $1,000 saved, individuals earn less than $5 annually. This is why high-yield savings accounts, like Vanguard’s new Cash Plus Account, are becoming more popular as they offer better returns on hard-earned savings.
Vanguard, widely recognized for its long-term investment solutions, has expanded into the savings space to help people reach their short-term financial goals faster. Whether someone is saving for a down payment on a home, a wedding, or a vacation, higher-yield accounts can make a significant difference. Andrew emphasized that Vanguard is on a mission to help people earn the returns they deserve and take control of their financial future.
The bottom line is that where you put your money matters. Switching to a higher-yielding account can accelerate financial goals and provide more financial security in the long run. To learn more about maximizing savings and exploring better options, Andrew encourages individuals to visitvanguard.com/cashplus.
