Banks Pay You NOTHING - Here's Why

Get a 10-Day Free Trial of Market Insiders: https://theminoritymindset.com/Market-Insiders . . See how much you can earn with CIT Bank*: http://bit.ly/CITsavings *Minority Mindset is a partner with CIT Bank. If you use them, we will get compensated but there's no additional cost to you! Savings accounts at traditional banks pay next to nothing, in this video we show you why banks pay you nothing and how you can get a better return on your savings while keeping your money safe. Subscribe To Our Channel: http://bit.ly/M2YouTube 🚨Read Our FREE eBook🚨 Get Richer Sleeping - Investing 101: http://bit.ly/m2InvestingeBook Recommended: Things You NEED To Understand About The New Economy: https://www.youtube.com/watch?v=Ziya5w6BELg&list=PLKsS_EjCEmdpTPQF64uDehmbsuHkB5P-i Why Financial Education Is More Important Now Than Ever: https://www.youtube.com/watch?v=0cScikkNXqQ&list=PLKsS_EjCEmdp1Ou6YeukY1refAQY251ef Banks Pay You NOTHING - Here's Why 0:28 – You’re smart with your money, but your bank account is paying you nothing 1:28 – How the banking system works 3:00 – How fractional reserve lending works for the bank to create more money out of thin air 3:57 – Interest rates are historically low which pushes the interest rates on savings accounts lower 4:58 – Historical averages of interest rates for savings accounts and mortgages 5:43 – Some banks like CIT Bank are coming online and helping you earn more money on your savings 7:35 – Traditional banks don’t feel the need to pay you anything because people are used to getting no returns on their savings What Is The Minority Mindset? We are a financial news & education company. The Minority Mindset has nothing to do with the way you look, your ethnicity, or your skin color. It's the mindset of thinking differently than the majority of people when it comes to your money. #MIH #GetMoneySmart Check out some of our recommended products & sponsors! ---------- ➤ Fundrise 1) 🏠 Fundrise - Invest in real estate with as little as $500! See the historical returns here: http://bit.ly/InvestFundrise ---------- ➤ CIT Bank 2) 🏦 CIT Bank - Get a better interest rate on your savings account with no fees: http://bit.ly/CITsavings ---------- ➤ Webull 3) 📈 Webull - Buy & sell stocks, pay $0 in commissions, and get a free stock: http://bit.ly/m2WebullFreeStock ---------- ➤ Credit Cards 4) 💰 Credit cards are great if you know how to use them the right way. Here's a breakdown of our favorite cards: Best cash back credit cards: https://theminoritymindset.com/best-cash-back-credit-card-personal/ Best travel credit cards: https://theminoritymindset.com/travel-credit-card/ Best business credit cards: https://theminoritymindset.com/business-credit-card/ ---------- ➤Credible 5) 💸 Credible - save money on your student loans by refinancing with the lowest interest rates: http://bit.ly/m2StudentLoanRefi ---------- ➤ Policygenius 6) 🛡 Policygenius - make sure your family is protected with life insurance. Policygenius will find you the best deal: http://bit.ly/PolicygeniusLifeYT ---------- ➤ Airbnb 7) 🏘 Airbnb - earn extra income by listing your home: http://bit.ly/M2Airbnb ---------- Twitter: https://www.Twitter.com/MinorityM1ndset Instagram: http://www.Instagram.com/MinorityMindset Facebook: http://www.Facebook.com/MinorityMindset See more & read our blog! http://www.TheMinorityMindset.com This Video: https://youtu.be/ASIW5NrYdYc Channel: https://www.youtube.com/MinorityMindset Video host: Jaspreet Singh DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you. DISCLAIMER CONT'D: I'm just a random guy on YouTube - do your own research! Jaspreet Singh is not a financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.