Esteemed Folk of Beard Lore. Interest rates are complicated animals. You see, they are wiggly, and come from two, very different parents. First, there is the Federal Reserve.
The Federal Reserve “creates” interest rates from thin air if you will. They set a Rate Target, and then loan money to banks in a way that they think will get Beard Folk to this target. When you hear that “Interest Rates are going up!” what you are actually hearing is that the Federal Reserve is charging Banks more money when they borrow.
Why does this matter? Because Banks are passing that cost on to YOU! So when you hear that “Interest Rates are going up!” then you will likely notice the interest rate on your credit card, new loans, and your variable rate loans is rising. You are PAYING more money. Interest rates have gone UP!
But Beard Man, why am I earning so little in my savings account?
Why? Because your Bank doesn’t love you. Think of a Bank as the popular girl/guy in school. You may love your bank, just like you had a crush on that person. But to your bank, you are just another personal admirer. Your bank’s heart belongs to money, and chances are you simply don’t have enough of it. Sorry. Love hurts sometimes!
So if you want more of your cash to work for you, the key is to find that popular boy/girl who is also nice and reliable. Sure, they may still love other people with more money better than you, but at least they will still treat your (unwanted?) advances with a level 
of dignity and not give you 0.01% on your hard earned Love Cash! I mean, really Love Bank? The Fed rate is like 3%! You think I’m worth 3 one-millionths of that? Is that Math even right? Ugh! Math!
So here you are, with a Math headache, and a broken heart, all because the bank you love, the bank you give money to every day through your loans, doesn’t even care if you exist or if have been hit by the school bus. But despair not, 
Folk of Beard Lore! There are other Banks out there that will love you more, or at least let you down more easily.
Like love, the easiest way to find a good match for your hard earned cash may be on the internet. But also like love, it can also be the scariest! You have to make sure your new Love Bank is not a Love Scam! Once you are part of a Scam, it can stick with you for years, like a disease in your financial life.
My go-to source for finding a good bank is Nerd Wallet, as it has a nice bit of data and advice when seeking out a bank that may suit your financial needs. This is certainly not the only place you can look, but it is definitely a good start.
For the Beard Man, I settled on Capital One 360 years ago. Their credit cards offer fair rewards and have good limits, their customer service on these cards is top notch (especially in Fraud Prevention), and their Savings Account Interest rates are very good. You can certainly find better, but I wanted a company I trusted and could work with. Synchrony, for example, typically offers higher rates, but I’ve had miserable times working with their loan departments, so they’ve lost my business on the bank end as well.
So Love, Banks, Math, and a school bus. Yup, I think we’ve covered as much as we’re going to cover today. If you do decide to give Capital One 360 a try, I’d encourage you to use my link (here). If you deposit $250 or more into your savings account, Capital One will give you an extra $25 (Free Money!), and hey, they’ll throw 20 bones my way as well.
Photos Used:
https://www.newsmax.com/ronpaul/fed-reserve-powell-federal/2018/01/29/id/840169/
https://3docean.net/item/broken-heart/11894594
//www.youtube.com/watch?v=-wkr_vf18cw
https://drawception.com/game/1KyLLP2eBy/youre-the-judge-oh-no-cont/
https://www.moneyunder30.com/capital-one-360-savings-account
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