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So you have a job - at least, I’m assuming you do, and you work really hard at that job, clocking in every morning, waiting for the hours to pass by, heading home every night, and every two weeks you get a nice paycheck that rewards you for your work. Even if you love your job, ultimately money is a big part of why you’re there. So what if I told you that money that you’re working so hard for is being wasted as soon as you deposit it into your bank account? Okay, the word ‘wasted’ might be a bit dramatic, but it’s true that you can often lose money by having it sit in a bank account that doesn't earn you interest that outpaces inflation. The good news is that 'high interest savings accounts' exist, and people can sign up for these accounts and earn more money. The thing is, most people don’t do that - in fact, most people keep their money in the absolute lowest possible saving account options. Why?? It sounds kind of crazy, right? And it is crazy - as a collective, people in the US have missed out on over $600 billion dollars of free money since 2014 by sticking with lower interest rates - and guess which banks offer these lower rates? The biggest banks. In this video, we'll dive into just how much money people are 'losing' by sticking with the big banks, and what you could be doing instead. 0:00 You’re losing the money you work hard for 1:58 Big banks vs banks with ‘high interest’ saving accounts 4:03 Interest rates actually used to be higher at big banks 6:14 Why aren’t people switching banks? 8:45 Big banks are profiting off of people’s complacency 10:43 Another money lie that we’ve been told ➡️ Simplii Financial - Our No Fee Checking Account (up to $400 bonus) - https://api.fintelconnect.com/t/l/65a... ➡️ EQ Bank - Our High Interest Savings Account - https://click.linksynergy.com/fs-bin/... ➡️ Wealthsimple Invest - Our Robo-Advisor Investment Platform ($25 bonus) - https://wealthsimple.sjv.io/vnkndW ➡️ Wealthsimple Trade - Our Favourite Stock Trading Platform ($25 bonus) - https://wealthsimple.sjv.io/yRARNB ➡️ Neo Financial - Our Cash Back Credit Card - https://join.neo.cc/stephandden ➡️ Questrade - Low Fee Investment Platform Canada ($50 in commission free trades) - https://questrade.sjv.io/AWa9jo ➡️ Borrowell - Free Credit Score Check - https://api.fintelconnect.com/t/l/612... The links above are affiliate and/or referral links that provide us compensation when you use them to sign up. Thank you for supporting our channel! Website - stephandden.com Instagram - @stephandden TikTok - @stephandden Camera - Sony A6400 - https://amzn.to/2vsmDqc Lens - Sigma 16mm - https://amzn.to/2vslvCV Microphones - https://amzn.to/2tSa3jQ Tripod - https://amzn.to/37EAibU Small Tripod - https://amzn.to/2S3dWul External Hard Drive - https://amzn.to/3mQzMlP Our Music - https://www.epidemicsound.com/referra... The links above are affiliate links - Steph & Den are Amazon Associates and we earn from qualifying purchases. Disclaimer - This content is for education and entertainment purposes only. Steph & Den do not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.