Suze Orman says women can earn up to thousands more a year by 'doing essentially nothing' — but many are missing out

Suze Orman says women can earn up to thousands more a year by 'doing essentially nothing' — but many are missing out Aditi Ganguly Tue, June 30, 2026 at 5:15 PM GMT+7 9 min read Al Teich/Shutterstock Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Nearly half of women may be stuck in a bad financial relationship without knowing it. A recent Vanguard survey (1) found that while more than 70% of women feel confident about saving money, nearly half are keeping their savings in accounts earning less than 3% interest. Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here's how to fix it ASAP JP Morgan sees gold hitting $6,000/oz before 2027 — and a Gold IRA lets you hold the physical metal while deferring the tax bill. Get your free guide from Priority Gold The ultra-rich use these 6 real estate strategies to build wealth while they sleep — you can start with just $100 That caught the attention of personal finance expert Suze Orman, who says many savers are unknowingly leaving hundreds or even thousands of dollars on the table each year. According to Orman, the problem often comes down to loyalty. Her solution? Break up with your savings account. "That's a steep price to pay for convenience," Orman wrote in a recent blog post (2), referring to the low interest rate on most standard savings accounts. She added that it's "not hard" to find alternatives that will "pay you much more" these days. However, Orman noted that many people stick with low-paying accounts despite the fact that a simple switch could help them earn hundreds more each year for "doing essentially nothing." According to Orman, the cost of sticking with a low-interest savings account can add up faster than many people realize. Imagine a prospective homebuyer has $80,000 set aside for a future down payment. If that money is sitting in a savings account earning 1% interest, it would generate about $800 over the course of a year. Move that same $80,000 into an account earning 3%, and the annual payout jumps to roughly $2,400. That's an extra $1,600 in a single year. The gap becomes even larger over time as interest compounds. Money that might otherwise be left behind could help cover closing costs, moving expenses, new furniture or simply bring a buyer closer to their down-payment goal. Compound interest (3) allows savers to earn returns not only on their original deposit, but also on the interest they've already earned — creating a snowball effect over time. "The power of compounding is something that is truly hard to understand until you see it over and over again," personal finance expert Ramit Sethi told Moneywise (4). Read More: Thanks to Jeff Bezos, you can become a landlord for $100 — without the headache of actually being one For savers who discover they're earning less than 3% on their cash, the next step is to explore what alternatives are available. Many banks continue to offer savings accounts with rates below 1%, while some high-yield savings accounts, money market accounts, and cash management accounts offer significantly more. The right option will depend on your financial goals and how quickly you may need access to the money. Typically, the first step is to begin work on building a healthy emergency fund. An emergency fund is one of the simplest financial safety nets you can build. The general rule of thumb is to save enough to cover three to six months of expenses, giving you breathing room if an unexpected bill arrives or your income suddenly takes a hit. But Orman has long argued that many households should aim for a bigger buffer. "You need as much money in the bank that makes you feel secure," she said in an interview with CNBC, adding (5), "Don't go fooling yourself, 'It's okay, I can charge on a credit card, I can do this.' You should have at least eight months. Not six months, not three months, I'd like to see you have eight months to one year." For those approaching retirement, this number can climb even higher to better cover any down periods in the market. The key is making sure that money stays accessible. A high-yield account like a Wealthfront Cash Account can be a great place to grow your uninvested cash, offering both competitive interest rates and easy access to your money when you need it. A Wealthfront Cash Account currently offers a base APY of 3.30% through program banks, and new clients can get an extra 0.75% boost during their first three months on up to $150,000 for a total variable APY of 4.05%. That's ten times the national deposit savings rate, according to the FDIC's May report. Additionally, Wealthfront is offering new clients who enable direct deposit ($1,000/mo minimum) to their Cash Account and open and fund a new investment account an additional 0.25% APY increase with no expiration date or balance limit, meaning your APY could be as high as 4.30%. With no minimum balances or account fees

Suze Orman says women can earn up to thousands more a year by 'doing essentially nothing' — but many are missing out

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