Your Money Matters: Summertime Financial Reset

On today's Your Money Matters, we're talking about a summertime financial reset.

Let's start with your savings account.

Interest rates have remained at 23-year highs for almost two years, but not for long. Before the Federal Reserve starts to cut rates, check out high-yield savings accounts, money markets, or certificates of deposit. You may be able to earn 4 or 5 percent on your money.

Next, although inflation is slowing, the cost of home and auto insurance has skyrocketed.

To save, consider bundling home and auto plans to get a better price. Look for discounts, many providers will lower your rates if you make upgrades like storm windows or a security system. Car owners with older vehicles may want to consider cutting back on certain parts of their coverage to save.

Finally, eliminate one-click purchases from your accounts.

As experts have said, it encourages overspending and credit card debt.

When you buy online, set it up where you have to physically type in your credit card every time.