All right, so i don't know about you, but i've always been someone. Who's been pretty against savings accounts. I don't use savings account. I never had any interest in them.

That's a you know what drop a like right now. That was a pretty good joke. I didn't even do that intentionally. What i'm trying to say is having a savings account, never benefited me in any way.

Usually the industry average of the apy you could get from a savings account would be under one percent. During the times when i started learning about money started learning that you know i could save money. Maybe i could save a thousand dollars here in high school, even if i had invested that full amount of a thousand dollars into a savings account over a year. If it had generated me on a high end of one percent, i would only be getting back 10 bucks if we divide that per month, that is less than a dollar per month that i would get.

But the reason why i bring up savings accounts is because, even though i've been someone who's never used the savings account just recently about a month ago. I got hooked now. This all first started when i heard about a bank called yada bank and for anyone who says it's yoda bank, it is definitely not called yoda. Bank yoda is spelled y, o d a and it's the little green thing from star wars.

It's yada. I don't know how people can mispronounce that it's so someone who's, never been a avid savings account user. I was on board when i had heard about this savings account using lottery tickets as an incentive to get people to sign up their money and to have a chance of winning prizes up to 10 million dollars or free tesla. I did a little bit more research to hear about the legitimacy about this app.

I knew it was a much newer, app fresh to the market and it seemed like youtubers were starting to talk about this left and right about a month ago. Once i done my research and i realized it was fdic insured and it looked like it was pretty legit. I wanted to try it out and just experience the app for myself. So in this video, i'm gon na be giving you my honest opinion and first-hand experience of using yada savings for the past month.

So this is my yada savings account. I don't have a tremendous amount of money in here. I have 640 bucks so for yada savings. I was putting in about less than a hundred dollars per week into this app and for the rest of the amount that i got.

This was actually off of the winnings that i got from the lottery tickets of the system that this has now. Yata savings is pretty much a an account that allows you to put your money stored into a vehicle that gives you free lottery tickets. Now, as you guys know, if you want to play the lottery, if you want to have a chance of winning a large sum of money, you often have to buy a ticket that costs you 10 or 20 dollars, but the benefit with the savings account like this Is the fact that i could put my money into a savings account still get a very, very, very, very small apy for that amount and have a chance of winning the ticket, but i could also pull this money out whenever i wanted to so. Essentially, i don't lose any money here.

There is zero risk for people and as soon as i started to understand that concept i was hooked. I shared the yada savings app a few months back into my facebook group. We have about 25 000 members in there and i was hearing some incredible reviews from other users using this as well. Now, if i were to give you my first hand, honest opinion on the weeks that i don't win anything yeah.

I start to lose interest about having this app and i also realized that the overall prizes seem to be going down every week. I'm assuming it's because more and more people are starting to win the prizes, but even if i won a small amount of even 10 or 20 dollars, which i actually have that actually recoups the value of the small investment i put towards this app. The biggest thing to me about having an additional savings account or any account that's gon na hold. My cash is how easy it's gon na be for me to pull out my money in case any emergency does arise with a savings account like this.

It's been pretty easy. I've had no issues and i like the way they set it up, because if i'm someone who decides to put 500 in here, i get a couple tickets and i want to pull it out next week. I can do that now. The only thing that'll happen is they'll reduce the amount of tickets that you get that next week, if you've deposited a specific amount of money or if you've had anyone, use your referral friend link and you've gotten free tickets from that now, although you're typical ordinary savings Account is pretty cut dry.

This one really adds a spin to it that i personally find interesting and valuable and makes the idea of saving money pretty fun. Now, for my experienced business owners for the people who know how to use credit card rewards points and miles and the ones that know how to invest their money and make a positive return, this may be just a very beginner app to you, but it can still Provide you value in having a safer vehicle with lower risk in having your money stored with most checking accounts. Your money is literally doing nothing in there except losing value, so it always makes sense to invest your money to put it in different vehicles. That can appreciate in value and match with the inflation rates that we're seeing in today's world.

I can really see this app starting to blow up in the next few months, because outside of the personal finance community, that we have on youtube, your general typical us american. This is a great idea: instead of spending thousands of dollars at the lottery, trying to win the powerball and and losing additional money. Imagine all the money that you could have put into a savings account that still gives you the same chance of winning a prize. Just like the money you would spend at the regular lottery now, as you can see on your screen, it is absolutely insane to see how much money that americans will spend on lottery tickets or even having another chance of winning some additional money.

All i must say is this is a great idea. I check in on this app almost every few days and definitely every week on sundays, when they're doing the little powerball, it's a nice little dopamine rush when you find out that you've done one did. I just go hillybilly. It's definitely a nice rush to know that you've been able to win just even a few dollars off the little money that you've invested into this app.

So if you enjoyed this video, don't forget to check out the affiliate links down below in the description. I have a link towards yada, where, if you do sign up using it, you will get a hundred or even 125 bonus tickets. For this app now also keep in mind whenever you guys use that i will get free tickets as well, but you don't have to use my link if you don't want to. But if you do sign up make sure you sign up with someone's link, it doesn't have to be mine, it could be your favorite youtuber, whatever it is, just use someone's link sign up for that and you'll get free tickets on top of whatever money you're investing Into the app, i encourage you all to do your due diligence, though watch as many videos on this as possible, and do your research on whether or not this app makes sense for you, in my opinion, as someone who's never used a savings account.

This is something that i vibe with no matter how enticing a savings account offer is, and i know for the next few years, it is not gon na get any better than this. Yada savings is where i'm gon na hold my money. If i need to have an emergency fund, i don't want it sitting in my checkings account and i want a vehicle where i can just leave it. Thank you all so much again for watching this video and until next time, peace out.