Member
Posts: 7,339
Registered: ‎12-11-2011
Re: Savings accounts are a joke...

Roarmeister wrote:

I earn between 1-5% cash back on two of my cards and points on a couple of others.  Isn't that BETTER than a savings account at 0.5%  Smiley Happy


No...

 

Because when you spend that money you get a return of .05.....when it is in a savings acount with an interest rate of .05%...you're actually ending up with a return of 1.05...since none of that money is being spent...Smiley Tongue