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Save $100,000 By Solving The Last Mile Problem

One of the fun things about living in a college neighborhood is getting to see all of the different modes of transportation college kids use to get themselves around town. If you’ve never spent time in a college neighborhood as an adult, take a weekend afternoon and just hang out in one for a bit. I promise that you’ll never see so many creative ways to get yourself from Point A to Point B. Folks travel around on skateboards. Scooters. Rollerblades. Basically anything with wheels. These college kids are masters at figuring out how to get around a city quickly, cheaply, and efficiently.

Non-car based modes of transport that go beyond walking are totally normal in college areas but seem oddly out of place in many “adult” neighborhoods. I know that when I lived in neighborhoods populated primarily by young professionals, I saw far fewer people using bikes as a primary mode of transportation. In even fancier neighborhoods, you’ll probably rarely catch a full-fledged adult biking as a means of commuting.

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Where Should You Put Your Emergency Fund?

Every personal finance expert probably agrees that you should set aside some money as an emergency fund. The amount you should have in your emergency fund is a subject of debate, but the typical rule of thumb is to keep somewhere around 3-6 months worth of expenses. You never know what the future might hold, so it makes sense to at least have some buffer to keep yourself afloat in case something happens.

Since we can all agree that we should at least have some money in an emergency fund, the next important question is where should we put that money?

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Insight Card: A Step-By-Step Guide to 5% Interest

One of the things I like doing is figuring out ways to get the maximum yield on my cash. Most people just accept whatever their bank offers them. The problem is that even your highest yielding savings account pays you just 1% interest these days.

What a lot of people don’t know is that there’s an entire world of super high yield savings accounts out there. These are savings accounts that pay way more than even your highest paying online savings accounts. The thing about these accounts is that you won’t find them at any normal bank. They’re sort of secret, and you can only find them “hidden” in prepaid debit card products.

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Netspend Account: A Step-By-Step Guide to 5% Interest

Most people don’t believe it, but even in today’s market, you can still earn 5% interest on money sitting in an FDIC insured savings account. It does require a little bit of legwork to set up, but once you’ve done it, the entire account is completely automated.

For most people, a 5% interest savings account is a perfect place to store your emergency fund. It’s where I store my emergency fund. And depending on how much you like to keep in your emergency fund, you could potentially have your entire emergency fund earning 5% interest per year.

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Wealth Is Relative – Remember This And Be Happier

I think that wealth, much like temperature, is relative too. One person might feel wealthy making a certain amount of money while another person, making the same amount of money, might feel like they’ve only got pennies to their name. Some of us might scoff when a doctor or lawyer says they don’t make enough money and are living paycheck to paycheck. When this happens, we wonder how someone making six figures can spend so much money.

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