· Day 1· Finance Topics 1/13
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Banking
Why your savings account might be losing money
What happened
Most big-bank savings accounts pay just 0.01% interest. With at 3%, money sitting in a regular loses purchasing power every year.
💡 What it means for you
If you have $1,000 saved, a 0.01% account earns you 10 cents/year. A high-yield account at 4.5% would earn $45.