There are several advantages to opening a health savings account. It’s important to consider the potential disadvantages of ...

Managing editor for Motley Fool Money. James has worked full-time for The Motley Fool since 2012. He's a personal finance wonk, longtime editor, former reporter, and University of Michigan alum.

You might use the terms Tax-Free Savings Account (TFSA) and Savings Account interchangeably, but there’s more to it than that. So, what exactly sets a traditional savings Account apart from a TFSA?

A high-yield savings account delivers exactly what its name suggests: higher yields on your deposits. Indeed, high-yield savings accounts "can pay up to 10 to 12 times the national average of a ...