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Just realized I was totally wrong about keeping a big cash cushion in my checking account.
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wesley18124d ago
Saw a thing online that called it the "checking account trap." Basically your money loses value just sitting there because of inflation, even without thinking about missed interest. It's like paying a quiet fee to your bank for the privilege of them using your cash. Moving it to even a basic high-yield savings account is a no-brainer move. The numbers really add up over a few years, enough to make you kick yourself for not doing it sooner.
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olivia39825d ago
Wait, you mean like keeping way too much in there just sitting around? My buddy did that for years, had like 15k in his checking just chilling. He finally moved most of it to a savings account that actually pays something and was shocked at how much interest he'd been missing, it was kinda wild lol. He said it felt dumb but also like finding free money.
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