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If You Knew This About Banks, You Would Think Twice Before Giving Them Your Money
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Welcome to a revealing episode of the Building Your Money Machine Show! Today, I’m pulling back the curtain on what banks are really doing with your money—and why you might want to think twice before trusting them with your hard-earned cash. Ever wondered why your savings account seems to earn pocket change while your bank flaunts shiny new office towers and charges you fees left and right? It’s not by accident, and in this episode, I break down exactly how the system is stacked in the bank’s favor, not yours.
We’ll explore the hidden realities of fractional reserve banking—where your deposited dollars are leveraged by the banks to make massive profits—and dissect how things like credit card debt, endless fees, and questionable banking practices eat away at your wealth. I debunk the illusion of safety when it comes to things like FDIC insurance and fraud protection.
But I won’t just leave you with concerns—I’ll equip you with tactical moves to ensure your money is safe, controlled, and actually working for you. You’ll leave this episode empowered to flip the script and start building a money machine that serves YOUR financial future.
IN TODAY’S EPISODE, I DISCUSS:
- How banks really make money using the fractional reserve system
- How credit card debt and minimum payments are building bank empires
- The hidden cost of monthly, ATM, and overdraft fees
- Why the bank may not always have your back
- Why I use credit unions and how you can benefit too
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If you liked this video, you'll love these ones:
- Accountant Explains: The 4 Money Personalities - Which one are you?: https://youtu.be/H6-F2EEn-Ps
- 6 Things I'd Tell My 20-Year-Old Self (as a 63-Year-Old Multimillionaire): https://youtu.be/aqTn3Us9q5o
- Financial Literacy is The Lowest it's Ever Been This is Sad: https://youtu.be/BIHtHihEOlY
- 10 Habits Of The "Fake Rich" You Need To Avoid: https://youtu.be/Ijofyr-YtXY
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