The reason I love this review by Joshua Mayo, is because he illustrates how using savings/checking accounts with low interest rates can prevent you from making money. He not only explains which banks offer the highest interest rates, he also lists their pros/cons and goes over the fine print. Many people don’t realize that different banks have different benefits. This video is eye opening and really shines a light on just how much better high interest accounts are when compared to normal ones.

Even though I love Joshua Mayo’s video, it is on the longer side. For people who just want a quick summary of what high interest savings accounts are and what you stand to gain, check out this video below by Discover. This is not an affiliate link or an endorsement for Discover. I just found it to be a fantastic overview!