Yotta was founded to help Americans become more financially secure. According to the Federal Reserve, 40% of Americans can’t come up with $400 in an emergency. This leaves almost half the country in a financially vulnerable position.
Even though 40% of Americans struggle to save, Americans spend $80 billion on the lottery every year, or $640 per household on average. The lottery is the worst bet you can make – only 50% of what’s put in is paid out.
So if the lottery is such a sub-optimal financial decision and saving is so important, why do people under-save and over-spend on the lottery? Because saving is boring. There’s no short-term reward. On the other hand, the lottery provides immediate hope, excitement, and fun… Continue reading about Yotta here.
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