Can you Bank on Banks? Recent Bank Crashes Explained

Deeper Than Money

Chloe Elise

Finance, Debt, Millennial, Credit, Investing, Saving, Business, Freedom, Mindset, Millionaire, Budget, Money, Loans, Relationships

5 • 803 Ratings

🗓️ 21 March 2023

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Chloe breaks down WTF is happening the recent bank crashes. She is giving the 411 on what happened, what it means, and how it impacts you. Grab the FREE High Yield Savings Account Training: https://www.deeperthanmoney.com/HYS-Training Learn more about The Wealth Accelerator and apply here: https://www.deeperthanmoney.com/the-wealth-accelerator

Transcript

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0:00.0	Hi and welcome to the Deeper Than Money podcast. I am your host, Chloe Elise. I'm a millennial money
0:11.3	coach speaker, dog mom, and a seven on the enneagram, and I am on a mission to prove to you
0:17.1	that finances can be fun and easy. On the Deeper Than Money podcast, we will dive
0:22.6	into all things millennial finance, debt, saving mindset, and how to have financial freedom
0:29.0	to enjoy life in your 20s and 30s. I want you to leave this podcast with more confidence around
0:34.9	your Moolah and the belief that your biggest financial dreams are possible
0:38.6	for you.
0:39.5	So, let's talk money.
0:54.8	Hello and welcome to to the Deeper Than Money podcast.
0:59.5	Today we're going to be talking about bank failures.
1:07.4	If you have heard in the news, Silicon Valley Bank, which is often referred to as SVB,
1:14.6	and signature bank were two of the biggest bank collapses since the Great Recession in 2008.
1:20.0	So you might have heard this in the news or have heard people talking about these two bank failures. And this podcast episode is going to break it down really simply to talk about
1:26.6	how that happens, what that means in general,
1:30.5	and also what that means for you. It's really, especially if you don't totally, like if you've
1:36.7	heard that news and don't totally get it, that can feel really scary, right? It can create
1:41.8	this distrust for you, one, in bank right you're like well if that bank failed
1:47.4	what if my bank fails it can create this distrust of maybe i shouldn't be putting my money in here
1:53.7	or this fear around what if i do leave my money in here and also fear for what's going on in our
2:00.8	economy right is there going to be
2:03.9	other banks that fail? Is there going to be, you know, a stock market crash with inflation? Like all
2:11.6	of these things, all of these very like fearful headlines are kind of floating around right now.
	...

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