Why Keeping Your Savings in Banks is Costing You Money

At some point in your life, you’ve probably been told to keep your money stored in banks so you can keep it safe and collect interest on it.

But in my years of working with real estate, accounting, legal and financial professionals, I’ve learned that that’s actually a big financial MISTAKE, and it’s costing you money.

Here’s why:

1. Your savings shrink every year.

According to gobankingrates.com, the average interest rate on savings accounts is a 0.08% APY, but many of the largest financial institutions in the U.S. pay a paltry rate of 0.01% APY.

U.S. inflation rates, meanwhile, averaged 3.27 percent from 1914 until 2018, and are predicted to remain above 2% for at least the next five years.

In other words, if you put money in the bank and leave it there, inflation will decrease your savings faster than your interest increases them.

2. The bank is profiting more from your money than you are.

Banks tend to charge around 18% interest on the loans you get from them, while paying you peanuts in return. On top of that, banks loan out the money you put in them and earn hundreds of dollars per year.

If you have money in the bank, and a mortgage you’re paying to that same bank, the bank is effectively lending your money back to you and charging you interest for it.

3. You could get a better return on your investment by putting your money elsewhere.

Here are two things you can do to reduce your expenses and get a better return on your savings:

A. Use some of the money in your savings to reduce the amount of debt you owe, so you pay less interest in the long run.

There is actually a way to do this WITHOUT decreasing the amount of money you have available to spend, so you can reduce your debt and interest payments without changing your lifestyle.

To learn more about how to pay off your debt in half the time or less, thus saving an average of $120,000 in interest, while working within your current budget, visit www.personaldebtliberator.com.

B. Invest your savings in a strategy that gets a return of 6-12% instead of 0.08-0.01%.

I’ve teamed up with a group of financial experts to give you access to an investment vehicle that provides an average return of 6-12%. The wealthy have been using this strategy for centuries, and unlike stocks, it’s never had a bad year and lost its users’ money.

On top of giving you a large and reliable return on your investment, this Personal Liberty Banking System also provides a way for you to finance your loans without waiting for banks to approve them, and enables you to pay interest to YOURSELF instead of the bank.

If you’d like to learn more about our Personal Liberty Banking System, please send a direct message to Liberty’s content marketing manager, and tell Stephanie that you’ve read this article and want to know more.