Money mogul Grant Cardone said you should be checking your cash, investing accounts every single day. Here’s why

Core Insights - The average American investor may be at a disadvantage due to low interest rates on bank deposits, with major banks like Wells Fargo, Chase, and Bank of America offering rates as low as 0.01% [2][3] - The Federal Reserve's benchmark interest rates are significantly higher, ranging from 3.75% to 4.00%, indicating that bank deposit rates are not competitive [3] - High-yield savings accounts offer better rates, up to 4.21%, but many consumers are either unaware of these options or do not actively seek them out [5] Banking Industry Analysis - The national average savings rate is reported at 4.6% as of August 2025, while inflation is at 3.0%, suggesting that the real value of savings is declining [3] - A survey of 8.3 million Chase customers revealed a median cash balance of approximately $6,600 in checking accounts, which typically do not earn significant interest [4] - The financial philosophy presented by Grant Cardone emphasizes the importance of awareness regarding where money is held, aligning with management consultant Peter Drucker's assertion that effective management requires measurement [5]