Savers looking to earn high interest on their money will need to be strategic now that the Fed is cutting interest rates again. Andrii Yalanskyi/500px

It's always important to earn as much interest as you can on your money.

Unfortunately, the current reality is that traditional savings accounts are barely worth it for the average saver. With an average interest rate of 0.40% now, not only are these accounts not maintaining pace with inflation, but savers are actually losing money by not taking advantage of certificate of deposit (CD) or high-yield savings accounts instead. Both of these accounts have had high rates in recent years, and they remain exponentially more lucrative than a traditional savings account currently is.

But with the Federal Reserve issuing an inter

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