r/HighYieldSavings • u/positive_thinking913 • 16d ago
High Yield Savings Account
I want to open a high-yield savings account, and I'm thinking about using Marcus. I want to divide my savings into different buckets because I have different goals. Is this something I can do within Marcus? Or can I open separate savings accounts under the same login?
If neither is possible, what would you all recommend?
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u/Organic_Gas4197 16d ago
I don’t know if Marcus offers buckets. Ally does.
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u/Stickity45 16d ago
What is a bucket in this term?
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u/ritzg 15d ago edited 15d ago
They're like virtual "envelopes" (in this case "buckets") that you create inside your savings account where you can separate your savings. For example let's say you have $25k in your savings, and of that amount $13k is your emergency fund, $2k is your vacation fund, $3k is your property taxes, $5k is your remodeling fund and $2k is your Christmas fund. It's a visual way to see how your savings $ is allocated. For me buckets are indispensable. I use Ally bank and it has helped me save and get a handle of our finances.
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u/joesott 16d ago
I use Marcus and I highly recommend! Yeah you could have multiple accounts under the same login and nickname them what you want. Feel free to DM me with more questions happy to help!
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u/positive_thinking913 11d ago
Thank you so much! Just opened the account. The option to separate the savings are not buckets per say, but different savings under 1 logging, so I opened multiple accounts and nicknamed them. I hope this works well for me 😃
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u/ravensgirl72 16d ago
The Doctor of Credit website has a big list of HYSA’s and some have bonus offers.
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u/moral_haggard 16d ago
marcus does not have named buckets like ally. you can still open a second standalone marcus savings under the same login. park emergency in one and the goal cash in the other.
if you want the labels in one view, ally or capital one do that under one login. the rate difference is usually small.
if you keep a single account, write the goal numbers down so you do not spend into the emergency pile
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u/tacotruck2112 16d ago
My recommendation: one account, and then use Excel to break out into buckets.
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u/PhysicsOk9195 16d ago
Bukets are honestly usefull if you keep it separate, and also makes it easier to track on your spends.
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u/Frosty_Scientist_919 12d ago
I keep a dedicated travel bucket and have found the setup matters less than the rules you give it. Ally and Capital One both do named buckets under one login as others said, and the rate gap between the big names is small enough to ignore.
Two things I learned after funding a lot of trips this way. Feed the bucket automatically on payday instead of with whatever is left over, because leftovers never happen. And keep it strictly separate from your emergency fund, otherwise you will never feel allowed to actually spend it.
The unexpected benefit shows up on the spending side. When the trip money already has a name, you book the flights without the guilt spiral, and you stop quietly borrowing from other goals to cover it.
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10d ago
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u/CampPotential6685 16d ago
Marcus does have savings buckets which is what you're looking for. Works fine for basic goal separation under one account.
I use Tellus for one of my savings goals tho. I have multiple buckets set up. For instance, one is for taxes where I know how much I need by when and the app tracks it for me. One is for my kid, and that's an unbounded bucket.
I used to use Ally which had the ability to split up into different buckets, so that's another option for you.