(NewsNation) — With the economy on shaky ground, more Americans may focus on saving, but many aren't making the most of their money.

A recent Vanguard survey found that nearly 60% of Americans earn less than 3% interest on their savings, and about a quarter earn under 1% — well below the 4%+ rates offered by top high-yield savings accounts.

A few percentage points may not seem like much, but over time, the higher returns from a HYSA can add up to thousands of extra dollars, without any added risk.

Experts typically recommend setting aside three to six months' worth of essential living expenses in an emergency fund. A high-yield savings account lets that money grow essentially risk-free.

Figure out how much your money can grow over time using NewsNation's savings calculator.

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