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Your bank is lying to you (about interest)

You might have noticed that your bank offers you an interest rate on your savings, with the narrative that they’re paying you a percentage of that every year you hold your money with them. The truth is, you’re actually losing several percent on your deposits each year. Not earning.

This all has to do with inflation, and how most of the time, bank interest doesn’t even come close to being higher than inflation. But I’ll give you some solutions on how you can actually earn more per year than inflation.

As always, let me know your thoughts below.

 

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