How to earn 4% or more on your money starting this September

Saving money in today's economy can be difficult enough with inflation , high interest rates and growing debt to contend with. Saving and growing your interest at the same time, however, can be even harder to do. And yet that's what millions of American savers are attempting this September as they continue to battle the impacts of inflation, higher oil prices and elevated costs on everyday goods and services. While investing money offers the appeal of big returns, it also comes with the reality of potential major losses, often in a quick time frame.

Fortunately, there are multiple secure ways in which savers can earn as much as 4% interest or more on their money, starting as soon as this September. And a traditional savings account, with a minimal average rate of just 0.38% currently, isn't one of them. That said, with time spent shopping around online and reviewing account types, savers can stop losing money with that account type and earn exponentially more with one or multiple alternatives.

So, how can you actually start earning 4% or more on your money starting this September? That's what we'll break down below.

Earn more interest on your money by using a high-yield savings account now .

Want to boost your interest earnings while navigating away from today's market risks? Here are three account types that can help you accomplish both goals to consider right now:

A high-yield savings account comes with an interest rate around 4.10% right now. Put another way, it's close to 980% more lucrative than a traditional savings account. But with this account type you'll still be able to make deposits and withdrawals as you've become accustomed to with the traditional account, all while earning much more interest.

This account also has a variable rate that will be responsive to market conditions, so if the rate climate heats up later this year, as it increasingly looks like it will , your rate and return will increase, too. With online marketplaces making it easier than ever to compare your savings account options, you can potentially get started with an account right now – and start earning more interest on your money immediately.

While the top money market account interest rates come in a few basis points below the 4.10% high-yield savings account rate, this unique alternative also has something that account doesn't – check-writing abilities for those savers who prefer to streamline their banking needs with a single account.

Money market accounts also have variable rates that will be able to take advantage of a heating interest rate environment. And they won't restrict accessibility the way a certificate of deposit (CD) account will, making it an attractive middle option for those savers unsure if a high-yield savings or CD is their better option.

A CD is the most profitable option on this list with long-term accounts offering rates as high as 4.35% to 4.50% right now.