economy
3 critical mistakes every saver should avoid this July
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TL;DR
- Avoid locking in the first high-rate offer without comparing options, as rates may still rise.
- Pay attention to important dates like the July 14th inflation report and the July 28th-29th Federal Reserve meeting, as these could lead to increased savings rates.
- Shop around for rates and banks, as institutions may react differently to economic news, and failure to compare could mean lost earnings.
- Traditional savings accounts with low interest rates (0.38%) should be avoided in favor of options with significantly higher rates.