Back in the day, banks would pay out up to 5% APR on all savings accounts. Today some people are happy just to save money with a .08% APR return, because they feel that is the best they can do. Well, I know a few online banks that pay at least 1.0%!
I use 3 online banks for savings and emergencies. GE Capital became GS Bank and pays 1.05% APR. That is a great rate for an interest earning saving account. A bit of advice is to avoid CDs no matter how tempting. You're locked in and there are penalties for early withdraw, not only from the bank, but on your federal returns. Keep that in mind.
Saving money isn't always easy, but being an ant instead of a grasshopper will prepare you for anything that comes your way. Seeing a possible emergency coming may help you put extra money aside. This may very well be the theme of a frugal penny pincher. Smile, you're on Candid Camera! Google CC.
If you want just a little bit more than GS Bank then you should check out Barclays. It not only pays 1.05% APY, but rewards you with extra credit for not withdrawing and depositing.
So is there possibly a better rate to help you save and earn interest? How does 1.10% sound? Check out Salem Five Direct. The .25% APY on the checking account!
In the GS Bank, I deposit as a weekly overdraft protection. If my paycheck doesn't cover expenses at some point, I withdraw from this account.
The Barclays is a long term savings for retirement account that will yield a high interest return. The Salem Five is for an emergency fund. Some would say, "Wouldn't you want Barclays as an emergency fund?" An emergency fund might be short term, but more than likely will be longer than projected. Eventually, a non spent SalemFive may earn more than a Barclays!
Now if you are saving it implies that you are not living paycheck to paycheck. This really will not make any sense to those who do. Saving is a form of investing that has a guaranteed return.
As always, be sure to read all agreements before signing on. Is there a minimum deposit on high interest accounts? What is my rate? Read and understand what you are getting into for the most part!
Friday, April 29, 2016
Tuesday, February 16, 2016
Birthday Freebies
There are many freebies to be had on your birthday. By not using them, is like turning down free money. Some may not be available in your area, others may not be your cup of tea, but regardless even one birthday money saver is worth it.
Here's a Google Search, to start. Denny's is still giving a free Grand Slam with just a proof of birth. Some sites you have to register and copy a birthday coupon that comes in your email. Either way, the freebies are great.
I also found local freebies from food to booze. The booze was a 2 liter boot of beer! That's over 2 quarts of beer!I couldn't finish the whole thing without a designated driver!
Here's a Google Search, to start. Denny's is still giving a free Grand Slam with just a proof of birth. Some sites you have to register and copy a birthday coupon that comes in your email. Either way, the freebies are great.
I also found local freebies from food to booze. The booze was a 2 liter boot of beer! That's over 2 quarts of beer!I couldn't finish the whole thing without a designated driver!
Sunday, December 13, 2015
Buyer Beware Buying A Car
There are services out there that charge you a fee for something you can get for free. LifeLock offers Identity Theft Protection for a few. Free ID protection is offered by Credit Sesame, which along with Credit Karma will supply your credit scores from all three credit agencies. This bypasses the yearly annual report everybody is entitled to, and is FREE!
So now we are hearing about CARFAX that gives us a history of any vehicle we hope to buy...for a fee. Car buying is a stressful situation because we are about to spend thousands on a mode of transportation that we hope will be reliable and not a lemon or a rip off!
Besides relying on a vehicle history we should be advised to have a reliable and trustworthy mechanic to inspect our selected purchase. Still there are free and MORE reliable services that can check a car's history.
AutoCheck, VinAudit, and NICB offer better service for FREE!
Remember to do your research before jumping on any vehicle that a dealer seems to steer you to.
So now we are hearing about CARFAX that gives us a history of any vehicle we hope to buy...for a fee. Car buying is a stressful situation because we are about to spend thousands on a mode of transportation that we hope will be reliable and not a lemon or a rip off!
Besides relying on a vehicle history we should be advised to have a reliable and trustworthy mechanic to inspect our selected purchase. Still there are free and MORE reliable services that can check a car's history.
AutoCheck, VinAudit, and NICB offer better service for FREE!
Remember to do your research before jumping on any vehicle that a dealer seems to steer you to.
Saturday, December 12, 2015
Useful Links
Sometimes I wish there were ways to make things easier, especially if it comes to a way to save money. In today's world we should protect ourselves from possibly facing an identity theft that leads to financial ruin. Strong passwords and a good anti-virus protection will help.
For the best protection, you should have a strong password for each site, rather than one password for all sites. You should write your passwords on a notebook and keep them in a secure location. You can also use password managers such as RoboForm or LastPass.
When it comes anti-virus' there are a vast number of different ones on the market. AVG and Avast offer both free and premium anti-virus'.
Financial health means possibly going on a spending fast, or freeze, for a day, a week, two weeks, or a month. Anytime you don't spend money puts money in your pocket. Find tips here, here and here to name a few.
Sites that save you on merchandise from food to goods are always worth trying. Coupons.com and SavingStar are useful to help you save. I also recommend applying for the retailers reward cards.
I was just turned on to a rather novel idea. If you buy gift cards from pawn shops or people trying to dump them for cash, you will save on merchandise and food. Try Raise.com where you can get deals and save some money.
If your still hesitant about investing, WealthFront will customize an investment plan and won't charge you until you reach $10000.
For the best protection, you should have a strong password for each site, rather than one password for all sites. You should write your passwords on a notebook and keep them in a secure location. You can also use password managers such as RoboForm or LastPass.
When it comes anti-virus' there are a vast number of different ones on the market. AVG and Avast offer both free and premium anti-virus'.
Financial health means possibly going on a spending fast, or freeze, for a day, a week, two weeks, or a month. Anytime you don't spend money puts money in your pocket. Find tips here, here and here to name a few.
Sites that save you on merchandise from food to goods are always worth trying. Coupons.com and SavingStar are useful to help you save. I also recommend applying for the retailers reward cards.
I was just turned on to a rather novel idea. If you buy gift cards from pawn shops or people trying to dump them for cash, you will save on merchandise and food. Try Raise.com where you can get deals and save some money.
If your still hesitant about investing, WealthFront will customize an investment plan and won't charge you until you reach $10000.
Saturday, November 14, 2015
The Money Tree
I encounter people who waste so much money it's pathetic. I wonder if they scam the system or can't see what's coming. I know some people in their 50s that have spent their entire retirement and continue borrowing as soon as they qualify. Their Social Security Income will probably be used to pay for their retirement loans.
Some people have addictions that will make them penniless in their golden years. Gambling and drug addictions are the biggies. Then if you live beyond your means, you will face a lifetime of debt. I might sound like a broken record in my rant, but I pull my hairs trying to understand why some live in a state of fantasy. Some continue to talk about retirement even though they still work beyond their original goals. Sad, indeed.
For those who save and invest and plan to retire in the real world, you get it. Saving and finding ways to make money will boost your retirement income. We all know about putting something aside weekly, and saving company raises and any extra income we make using coupons, etc., these will make a difference in your saving.
We all know about investing, although many are weary of the stock market and hiring a financial adviser. A new way to get a high yield(up to 9%) on your money is to lend money. This new trend is giving better returns than the stock market. And although there are risks, you can minimize them by choosing how much and to who you want to give your money to. The higher the risk the better the return. Two places to try are The Lending Club and Prosper.
The biggest pocket drainers(as I call them) in our daily lives are phone plans, cable television, internet connections, gym memberships, and groceries. My phone plan is $25, I don't have cable television, my internet is $48 down from $56 from another provider, my gym is $10 a month with a $40 annual fee(that most gyms charge), my groceries average $60 a week. That's pretty good but I feel I can do better.
Frugal Shopping sites might help you save on everyday shopping. Here are ways to save on 30 expenses that can add to your savings.
Some people have addictions that will make them penniless in their golden years. Gambling and drug addictions are the biggies. Then if you live beyond your means, you will face a lifetime of debt. I might sound like a broken record in my rant, but I pull my hairs trying to understand why some live in a state of fantasy. Some continue to talk about retirement even though they still work beyond their original goals. Sad, indeed.
For those who save and invest and plan to retire in the real world, you get it. Saving and finding ways to make money will boost your retirement income. We all know about putting something aside weekly, and saving company raises and any extra income we make using coupons, etc., these will make a difference in your saving.
We all know about investing, although many are weary of the stock market and hiring a financial adviser. A new way to get a high yield(up to 9%) on your money is to lend money. This new trend is giving better returns than the stock market. And although there are risks, you can minimize them by choosing how much and to who you want to give your money to. The higher the risk the better the return. Two places to try are The Lending Club and Prosper.
The biggest pocket drainers(as I call them) in our daily lives are phone plans, cable television, internet connections, gym memberships, and groceries. My phone plan is $25, I don't have cable television, my internet is $48 down from $56 from another provider, my gym is $10 a month with a $40 annual fee(that most gyms charge), my groceries average $60 a week. That's pretty good but I feel I can do better.
Frugal Shopping sites might help you save on everyday shopping. Here are ways to save on 30 expenses that can add to your savings.
Wednesday, August 26, 2015
The Road-BLOCK-To Riches
Why aren't you rich, regardless of what you earn? It's really no secret. You live above your means(Period). Rationalize and come up with as many excuses as you must, but that is the truth when it comes to your financial situation.
Unfortunately, sometimes living beyond your means can be a form of self preservation. You don't want to live in a high crime area just to save on rent or home ownership. Living beyond your means actually can be summarized as putting your wants ahead of your needs. Your wants require no foreseeable sacrifice but will come with a great price in the near future.
We are materialistic and tend to try to keep up with the Joneses. If the Joneses are more financially stable than ourselves, we are doomed to financial ruin. Yet we continue to spiral in debt because we want more than we need.
When it comes to money, it takes discipline and discipline requires sacrifice sometimes. That is the reality. If you want fantasy, then keep on dreaming. Eventually you will have to pay the piper. God help you if it catches up at your retirement. I know people who haven't saved or invested one red cent their entire working career and have constantly borrowed from their retirement. Their choices are work until you die or retire penniless. This is just a fact.
If you're OK with your current trajectory in financial situation, then continue to dream and prepare for your nightmare. If you want to face facts about your finances, be sure to correct what may be keeping you poor!
Unfortunately, sometimes living beyond your means can be a form of self preservation. You don't want to live in a high crime area just to save on rent or home ownership. Living beyond your means actually can be summarized as putting your wants ahead of your needs. Your wants require no foreseeable sacrifice but will come with a great price in the near future.
We are materialistic and tend to try to keep up with the Joneses. If the Joneses are more financially stable than ourselves, we are doomed to financial ruin. Yet we continue to spiral in debt because we want more than we need.
When it comes to money, it takes discipline and discipline requires sacrifice sometimes. That is the reality. If you want fantasy, then keep on dreaming. Eventually you will have to pay the piper. God help you if it catches up at your retirement. I know people who haven't saved or invested one red cent their entire working career and have constantly borrowed from their retirement. Their choices are work until you die or retire penniless. This is just a fact.
If you're OK with your current trajectory in financial situation, then continue to dream and prepare for your nightmare. If you want to face facts about your finances, be sure to correct what may be keeping you poor!
Tuesday, August 18, 2015
Gimme Shelter
Lifelong lessons come with a price. Going with traditions can sometimes cause discord in money matters. I tend to look at life and see the successes and failures of myself and others. I also see a compulsive behavior that has most of us repeating mistakes when it comes to money.
First thing I should clarify is that I, like many, hit rock bottom but swore never to return. I'm not rich, but I'm frugal and have to live within/below my means. That is the real secret. I've seen people living beyond their means and paycheck-to-paycheck. I've also been there.
When it comes to shelter, I have rented most of my life I've also owned for awhile. I prefer renting
and have my reasons beyond these valid points. Home ownership is great and has great benefits, each person has to see what is right for them.
I made mistakes when I bought a house. It was a money pit that bled me to live beyond my means. I was a naïve and trusting person, which would normally be a red flag. Then it was the era of predatory lending. The house I bought wasn't exactly in a desirable neighborhood.
Renting is great because I have no maintenance, repairs, etc., bills that most home owners must deal with. Yet, lets not forget that home owners have their home as an asset to them because it has value.
We could go on forever as to the pros and cons of renting or ownership or even the rental property ownership. Whichever scenario you are capable of and makes or saves you money should be your goal.
If homeownership is your thing, do your homework. Will the neighborhood be the same in 30 years? Can you sell the house for a "get/got" profit in the future? Can you rent it FOR A PROFIT? If it's going to cost more to maintain and the neighborhood is going downhill, it might become a money pit.
The great thing about renting is that you can get up and move after the fulfillment of the lease agreement. You don't have to maintain the property. You don't have to clear the sidewalk of snow in the winter or mow the lawn in the summer. Something breaks down or there is a major problem. the landlord should be responsible if it is reported in timely manner.
Renter beware! Read your lease carefully before you sign! Landlords are trying to shift responsibilities in leases making the renter responsible for certain maintenance tasks.
After your first year, you have a right to move by giving just a 30 day notice to a landlord. Clean the apartment when moving because landlords keep your total security by nit picking.
Bottom line: Whether you own a home, rent a home, or are a landlord, when it comes to real estate, DO YOUR HOMEWORK!!!
First thing I should clarify is that I, like many, hit rock bottom but swore never to return. I'm not rich, but I'm frugal and have to live within/below my means. That is the real secret. I've seen people living beyond their means and paycheck-to-paycheck. I've also been there.
When it comes to shelter, I have rented most of my life I've also owned for awhile. I prefer renting
and have my reasons beyond these valid points. Home ownership is great and has great benefits, each person has to see what is right for them.
I made mistakes when I bought a house. It was a money pit that bled me to live beyond my means. I was a naïve and trusting person, which would normally be a red flag. Then it was the era of predatory lending. The house I bought wasn't exactly in a desirable neighborhood.
Renting is great because I have no maintenance, repairs, etc., bills that most home owners must deal with. Yet, lets not forget that home owners have their home as an asset to them because it has value.
We could go on forever as to the pros and cons of renting or ownership or even the rental property ownership. Whichever scenario you are capable of and makes or saves you money should be your goal.
If homeownership is your thing, do your homework. Will the neighborhood be the same in 30 years? Can you sell the house for a "get/got" profit in the future? Can you rent it FOR A PROFIT? If it's going to cost more to maintain and the neighborhood is going downhill, it might become a money pit.
The great thing about renting is that you can get up and move after the fulfillment of the lease agreement. You don't have to maintain the property. You don't have to clear the sidewalk of snow in the winter or mow the lawn in the summer. Something breaks down or there is a major problem. the landlord should be responsible if it is reported in timely manner.
Renter beware! Read your lease carefully before you sign! Landlords are trying to shift responsibilities in leases making the renter responsible for certain maintenance tasks.
After your first year, you have a right to move by giving just a 30 day notice to a landlord. Clean the apartment when moving because landlords keep your total security by nit picking.
Bottom line: Whether you own a home, rent a home, or are a landlord, when it comes to real estate, DO YOUR HOMEWORK!!!
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