return2ozma@lemmy.world to News@lemmy.world · 10 months agoAmericans are 'doom spending' — here's why that's a problemwww.cnbc.comexternal-linkmessage-square37fedilinkarrow-up1116arrow-down14cross-posted to: news@lemmy.worldusa@lemmy.ml
arrow-up1112arrow-down1external-linkAmericans are 'doom spending' — here's why that's a problemwww.cnbc.comreturn2ozma@lemmy.world to News@lemmy.world · 10 months agomessage-square37fedilinkcross-posted to: news@lemmy.worldusa@lemmy.ml
minus-squareSabata11792@kbin.sociallinkfedilinkarrow-up89arrow-down8·10 months ago“Every dollar you set aside will compound.” Out of touch as fuck. If the fees don’t take it, the inflation will.
minus-squareQuarterSwede@lemmy.worldlinkfedilinkarrow-up13arrow-down3·10 months agoIt’s not out of touch. The problem is we do a shit job of teaching people the basics of budgeting and how to save in our culture.
minus-squaremeat_popsicle@sh.itjust.workslinkfedilinkarrow-up10arrow-down1·10 months agoIt compounds their profits as they make more from the deposit than you! That’s what he really means.
minus-squareJDubbleu@programming.devlinkfedilinkarrow-up5arrow-down1·edit-210 months agoUse a brokerage like Fidelity as your bank instead of these fuckers at Chase and BofA who don’t respect you despite you giving them your money. Doesn’t have to be Fidelity, but in the current day if you’re not getting the following from your bank you’re getting fucked: $0 minimum balance, $0 in account fees No overdraft fees Minimum 4% APY on savings, minimum 2% APY on checking ATM fee reimbursement Instant transfers between your own accounts Access to direct deposits even while they’re still pending
“Every dollar you set aside will compound.”
Out of touch as fuck. If the fees don’t take it, the inflation will.
It’s not out of touch. The problem is we do a shit job of teaching people the basics of budgeting and how to save in our culture.
It compounds their profits as they make more from the deposit than you! That’s what he really means.
Use a brokerage like Fidelity as your bank instead of these fuckers at Chase and BofA who don’t respect you despite you giving them your money.
Doesn’t have to be Fidelity, but in the current day if you’re not getting the following from your bank you’re getting fucked: