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Rant: Found out my savings account was earning 0.01% for 3 years
I always thought my bank was fine, just let my savings sit there. Then my coworker mentioned their credit union gives 3.5% APY. I looked it up and realized I missed out on like $600 in interest over 36 months because I was too lazy to switch. Found a comparison site that showed me all the better options. Now I moved everything to a high yield account. Anyone else lose money by being lazy with their bank choices?
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johnb954d agoMost Upvoted
Buddy of mine had his money in a big bank for like 5 years earning nothing. He finally switched to a credit union and was kicking himself for all the free cash he left on the table.
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piper_thompson314d ago
Figure out how much he actually missed out on? I moved my savings to a credit union last year and got 4.5% APY on my regular savings account. My old bank was literally giving me 0.01% or something ridiculous. On a 10k emergency fund that's like $450 vs like $1 a year. Thats wild when you actually do the math. What did your buddy say he lost out on specifically?
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