American families are hoarding piles of cash, but leaving money on the table.
Here’s why, and how to make it all back Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below
Cash is king, right? Well, not always. Sometimes you can have so much cash sitting around in your bank account that it turns into a wealth-devouring demon.
Top Picks On average, American families had about $62,410 in their checking accounts, according to the Federal Reserve’s 2022 Survey of Consumer Finances (1). For most people, that balance is simply higher than it should be. The key culprit for burning through that balance?