I have 2 bank accounts, as alot of people do, a savings and a checking account. What I find funny looking back in retrospec is how little I really paid attention when I was first looking to set up my account. Sure they mentioned the interest rate in glancing. But I was just a kid I only had a few hundred bucks to save so who really cared. Well here I am now, I’ve had my savings account for almost 5 years, My accounts grown… well a good bit. I’ve started to really think about my future, now looking back I see how big of a mistake my current account was. You wouldn’t believe my APR, 1% yes thats 1 measly percent per year! On a bonified savings account. It’s rather useless considering I loose money everytime I withdrawal money. From what i’ve gathered in withdrawal fees alone i’ve already lost 6 years worth of interest LOL.
This hurts even more after seeing savingsaccounts.com I mean dear god where was this site a few years ago to slap me in the head and say “Warning: Your about to do something foolish!”. I mean 1% over 5 years when according to their site I could be earning anywhere 3% APR all the way to 6% APR. Come on 6%! That makes my current bank look like a complete and utter joke! These aren’t no name savings account their major banks. Listen to me if your a kid opening up a piggy bank account or a parent opening up an account. Do yourself a favor, research it now, because down the road you’ll regret not having looked into it! And theirs no way to earn all that missed out on interest if you don’t. So check out SavingsAccounts.com they have a list of some of the best banks out their, whats better I notice a few of them even allow online signups.
Source: SavingsAccounts.com and Inhouse (Paid Advertisement)
