Tip: Consider using a single high-APR cash account / no-limit withdrawal account for a combined checking and savings account

Hey! I am relatively new to this community and am absolutely loving YNAB. One thing I am reading a lot is that many people are leaving money on the table by keeping so much money in their low-yield checking accounts. Since you're doing your budgeting in YNAB, you don't need to have separate accounts - so you might as well have one high-yield account for that cash to sit in. This also simplifies your set up, since YNAB is where your categories exist.

I personally use a Wealthfront Cash Account, which gets 4% APR, but there are lots of competitors (Betterment Cash Reserve is the other one that gets a very high APR that I am aware of). These types of accounts do not have caps on the number of withdrawals you can do, so it's essentially a HYSA that acts as a checking account. That money is sitting around waiting to do its job, but it might as well do some work while it's there!

I'd love to hear from others - how do you maximize the work your money does while it's waiting to do its job (that you've set up in YNAB)?