Inflation is still high, which is why it's so important to earn high interest on your savings accounts and there are a ton of banks that do actually offer high interest in Canada (they just don't include any of the big banks). Because if you aren't earning anything close to the current inflation rate, you know what that means. Your money loses money. The purchasing power of your savings diminishes. So ditch those low interest rates all the big banks are giving you, and look elsewhere!
In this video, I share 7 of the best high interest savings accounts available in Canada as well as my running list of the best banks with high interest (linked below). I also break down how interest on savings accounts is actually calculated because most people get it wrong. It's not simply the rate those banks post!
CHAPTERS
00:00 Introduction
0:27 How interest is calculated on your savings accounts
0:28 Top savings accounts rates in Canada in 2023
RESOURCES
➡️ My running list of high interest savings accounts in Canada (MAKE SURE TO BOOKMARK!) https://jessicamoorhouse.com/high-interest-savings-accounts-in-canada/
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ABOUT ME
I'm Jessica Moorhouse, a money expert, Accredited Financial Counsellor Canada®, speaker, blogger, YouTuber, and host of the More Money Podcast. I'm based out of Toronto, ON, Canada and turned my personal finance blogging side hustle into my full-time business so I could spend all my time teaching others how they can take control of their lives by taking control of their money. To learn more, check out my website https://jessicamoorhouse.com
#money #personalfinance #savingmoney
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The content I produce is for education and entertainment purposes only. Nothing on this YouTube channel, my website or affiliated channels should be considered financial, investment or legal advice, or an endorsement for any type of service, product, or brand. Some links in this description may be affiliate links in which I may earn a commission at no extra cost to you. Please read my disclaimer to learn more: https://jessicamoorhouse.com/disclaimer/
