MAKE MONEY BY JUST USING THE APPLE SAVINGS ACCOUNT AND APPLE CREDIT CARD

MAKE MORE THAN 5 PERCENT WITH APPLE CARD, WITHOUT INVESTING (SUMMER SAVING)

Introduction: Welcome back to our channel where we specialize in finance and relationships. With me is my wife Bianca and my name is Alex. Today we will be discussing the importance of this new apple savings account that apple just launched and how it can help you make more than 6 percent return every single month. If you want to learn how to maximize your savings account, here’s how:

Preface: In order to use Apple savings, you must first have an Apple Credit card. If you don’t have an Apple card, you can apply to get one through your iPhone.

Open wallet app

Tap + card

Fill out form

They will let you know the amount they have approved your d will send you a credit card in the mail in a week.

Body: Once you have your apple card, now you can start using your apple savings account.

What is it? Apple savings is one of the newest features that apple recently launched that allows you to receive 4.15% of dividends each month, simply by allowing your money to sit in the savings account. It also allows you to gain cash back every time you use your apple card, which is an additional amount to your 4.15% return on savings.

CASH BACK:

Is accrued daily & your returns on savings is paid monthly.

all transactions when using the physical card get a 1 percent cash back.

all transactions when using apple pay get 2 percent cash back.

all transactions when purchasing an apple product through apple is 3 percent.

Why: Once you are using your card on a regular basis you will have an accumulated amount of cash back added to you apple wallet, this can automatically be transferred to your apple savings account. HOW WE DO IT, is we allow all daily cash to be transferred into the savings because the more money in your savings, the higher the return at the of the month. In other words, you are receiving 1-3% on all purchases AND on 4.15% on your Apple savings monthly.

Ex. you spend $1500 on purchases and you pay all of them with apple pay which is 2% cash back, which is $30 dollars back every month. Plus your 4.15% apy on your $10,000 dollars in your savings is an additional $35 dollars a month. So all in all, you're at $65 dollars per month that you get in return and almost $800 dollars extra a year. These numbers are solely based on these exact values, but remember your savings increases through the year, so your return becomes more every month.

Food for thought: If this is confusing, comment down below and we will be more than happy to help you with your exact numbers so you can see how much money you can be earning monthly or yearly.

When is a good time to consider apple savings? Now is an excellent time to take advantage of these high yielding savings accounts. You really don't hear many banks paying such a high interest rate on saving accounts. Most banks nowadays pay at the most 0.005 percent interest on your thousands of hard earned money just sitting in your bank account. Should you fully put all your savings in one account, no, it's good to diversify.

All in all: although this is a great opportunity to use, make sure to spend your money wisely and not to fall victim to high credit card usage and interest rates. Spend responsibly and the only way to take full advantage of this is to pay your full statement balance at the end of the month. So if you spend $1000 in one month, pay $1000 at the end of your next billing statement. Apple is really good at alerting you of how much you need to pay to avoid paying interest. Stay disciplined with full statement balances and you'll see the rewards sooner than later.

Recap: In our last video we spoke about 5 simple ways to maximize your savings. If you haven't watched that video please feel free to watch it, we will have a link to it in the description, it’ll also be available up here, and at the end of the video!

Thank you: thank you for watching another video, we love sharing a little of our knowledge with you guys. Please feel free to like and subscribe and see you in the next video.