Silly me, I just realized my bank is a storage facility and the service charges are rent on the “space” my money takes up. Funny thing is, the people running a more conventional storage company don’t turn around and “rent” out my stuff to somebody else and make a profit on it.
Yes, it’s convenient to have someplace to keep my money. It’s safe as long as the government doesn’t tank. It’s easier to write checks or use a check card than it is to carry around a wad of cash. But it’s almost impossible to function in our society without a bank account. But even cd’s don’t pay much in the way of interest anymore.
If mom and I were to decide to live someplace else and let someone else live here, we’d charge rent. A bank (or in this case a credit union) stores my money, charges me a service fee if I don’t store enough at one time and barely pays me rent for the use of it.
Yes, I know this makes the money available to other people to build businesses, houses, ect. But I work pretty darn hard to earn it. Seems like they ought to pay me and folks like me a little more for the privilege of using it to make their profits. Opinions anyone?
8 hours ago