Interest rates.

[carol b]

We decided to change banks awhile back and one of the deciding factors was interest rates.

The bank we went with offered the highest rate but it still seems very low.

I look to see how much we earn when it is applied and am dissatisfied with the amounts.

We recently earned a whooping .30 cents and we had over $2000 in the account at the time.

It just seems that it would take forever for a person to earn enough interest on the money that they are trying to save to even make a difference.

My question is why are the rates so low? Seems to me that when I was growing up interest on a savings account was somewhere around 3%. Maybe I dreamt it but something has to break. We work too hard for our money not to reap some benifit somewhere.

[moneysense]

Interest rates are very low and one has to wonder why. Back in the day, if you had a very large amount of money in your savings, you could live nicely for the month on the interest your money had earned.

These days, in order to be able to do that, one would have to have hundreds of thousands of dollars worth of savings in order to do this, if it is even still doable with that amount of money.

Interest rates have gone down, taxes have gone way up, cost of living is out of this world and then we wonder why we all live paycheck to paycheck? Unless you are very rich, you have no other choice these days.

[carol b]

Doesn't anyone able to add here? If we were to stop looking at things individually and put 2 and 2 together we would all realize that everything is being designed to keep the rich,rich and the poor,poor. I mean wow its obvious now what the hell are we gonna do about it?