Why the Average American’s Savings Account Is Losing Money

Right now, inflation is around 2.4%. Meanwhile, the average savings account pays just 0.38% APY. (It’s even worse for checking accounts which average a pitiful 0.07%.)Basically, for the average saver, inflation is eating at cash value faster than interest is being earned. This results in a net loss each and every month.Continue readinghttps://www.fool.com/money/banks/articles/why-the-average-americans-savings-account-is-losing-money/

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