Warning: Here’s why keeping your savings in the bank is hurting your financial future – Motley Fool Australia

Bank accounts are something we all have and need these days. Traditionally, there are two primary types of bank accounts: chequing and savings.
Chequing accounts normally don’t come with a substantial interest rate and are primarily used for transactions and the like — which is why they typically come with an EFTPOS card.
However, savings accounts are usually classed as ‘wealth-building tools’ or even ‘investments’. You place your surplus cash in a savings account, where you were traditionally rewarded…

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