How many people here realize that banks used to offer up to 5% interest on savings accounts, but since deregulation, they now mainly only offer .3%-.5%? And since most Americans have minimal savings, most of their money is kept in checking, which has a standard rate hovering around .07% In order to make any real interest on your savings you'd have to have 10k AT LEAST just locked away. #foreverpoor
How many people here realize that banks used to offer up to 5% interest on savings accounts, but since deregulation, they now mainly only offer .3%-.5%? And since most Americans have minimal savings, most of their money is kept in checking, which has a standard rate hovering around .07% In order to make any real interest on your savings you'd have to have 10k AT LEAST just locked away. #foreverpoor