Savings Account facts
While investigating facts about Savings Accounts and Savings Account Interest Rates, I found out little known, but curios details like:
For four years, Hugh Grant pretended to be his own talent agent under the name James Howe Ealy. He communicated with people via a fake email account and even disguised his voice with a Scottish accent on the phone. “I saved myself an absolute fortune,” he said.
how savings accounts work?
69% of Americans have less than $1,000 in their savings accounts and 34% have no savings at all
What savings account is best?
In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering what savings accounts are tax free. Here are 28 of the best facts about Savings Account Calculator and Savings Account With High Interest I managed to collect.
what savings account should i open?
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Approximately 62% of Americans have less than $1,000 in their savings accounts and 21% don’t even have a savings account
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Approximately 62% of Americans have less than $1,000 in their savings accounts and 21% don’t even have a savings account
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Hugh Hefner's father, a public accountant, turned him down when he needed money to start Playboy as he did not think the magazine was a good business investment. However, as he was about to leave, his mother took him aside and gave him a $1000 cheque from her savings to help his venture
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Chicago Blackhawks called on a 36 year-old accountant and fan to serve as Emergency goalie after starter and backups were injured. He played in the third period and had 7 saves with a save percentage of 1.000
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A terrorist strategy to avoid tracked emails is for one terrorist to compose an email, save it as a draft, while another terrorist logs into the same account to read and delete the draft.
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A strategy that terrorists use to avoid having their emails tracked is for one terrorist to compose an email, save it as a draft, and have another terrorist log into the same account to read and delete the draft.
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62% of Americans have less than 1000 dollars in their savings account.
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Toronto subway token fare prices have risen faster than inflation since 1990. While the consumer price index has risen at an annualized rate of 1.8% in Canada, TTC fares have increased at 4.5%. A investment in tokens would have been more profitable than to deposit money in a savings account
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A bomb meant for an Air India flight instead exploded at Tokyo's Narita Airport because the bombers neglected to take daylight savings time into account
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The BIONICLE toyline helped save LEGO from its financial crisis of the late 1990s, accounting for nearly all of LEGO's financial turnover from the previous decade and becoming one of its biggest and most successful product lines.
Savings Account data charts
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Why open a savings account?
You can easily fact check why should i open a savings account by examining the linked well-known sources.
There is an 8 year old making over $1.3 million per year from his YouTube channel. His parents are putting the money into a savings account for him rather than spending the money.
Although interest compounds on a retirement savings account like a 401(k) so do the fees, and that just a 1% fee can eat away 28% of your returns over the long run. - source
Your state government keeps track of any "unclaimed property" in your name- this could be tax refunds, reimbursement checks, old savings account money or proceeds from an inheritance. Most states have an online process where you can see if you have any unclaimed property! - source
Savings Accounts in the U.S. can only have 6 transactions per month according to Federal Law. Anything beyond that, the account holder gets penalized or may be even forced to close the account
A financial institution estimated the average millennial with student debt had 75 percent less net worth than their debt-free peers. The median net bank account balance (checking+savings) of all grads under 35 who had loans, they found, was $5,500, while it was some $10,180 for those who didn't. - source
When to open a savings account?
About prize-linked savings accounts (PLSAs), which uses the chance to win a prize to incentivize personal savings. They function both as a sweepstakes/game of chance (there is a chance of a large prize) and as savings vehicle (the deposit is never lost, unlike normal lotteries).
How savings account interest is calculated?
Close to half of those who earn from $100,000 to $149,999 a year have less than $1,000 in their savings accounts.
There is US federal law that limits your savings account's transfer/withdrawal quantity to 6 times a month.
Almost half of Americans have less than $100 in emergency savings, and the bank account balance is around $4,436.
On March 29, 2018, Canadian accountant Scott Foster played 14 minutes in an NHL game, had 7/7 saves, and is one of 18 goalies in the NHL to have a perfect 1.0 save rate. He got to keep the team jersey he wore in the game but recieved no other compensation for his work.
29% of people have $1000 or more in a savings account
