FINANCE TIP: Never keep your cash savings at a regular type bank accounts such as Chase/Wells Fargo/etc. Make sure you use online banks (or some credit unions) which offer much higher interest rates. Bannkrate.com does a good job of showing who's currently got the best rates. Just for example Chase banks and Bank of America (the worlds two largest banks)savings accounts have an annual interest rate of .01%. Ally Bank has an annual interest rate of 4%. One is keeping up with inflation and one isn't even close..ie you're losing money in it! INSANITY
This! I can only hope that everybody here in my country will soon be digitally literate that they will finally eschew keeping savings account in brick-and-mortar banks and shift to digital banks. Savings in traditional banks earn interests that are much lower than the inflation rate. In other words, you're saving money to die, slowly but surely.
In this digital age, traditional banking is biting the dust. Popular GCash here in my country offers 2.6% annual interest. PayMaya, on the other hand, offers a base interest of 3.5%. There are others. They all offer much higher interest rates per annum. Fintech is fast developing. It's about time we ditch these old banking style.