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Saving

Put Your Savings in Hyperdrive, Part 1: Open a High-Yield Account

by Flexo

Hyperdrive, also known as warp speed or a number of other terms in science fiction, refers to traveling faster than light. While theoretically impossible for objects due to the special theory of relativity, moving at this incredible pace is possible for your money. While you have a savings account earning continuous interest, you are becoming ... Continue reading this article…

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Cashed In Series EE Bonds

by Sasha

In the interest of further consolidating my finances, this past week I cashed in a small collection of 1988 series EE bonds which I’d kept hidden away ever since. All had reached and surpassed their maturity dates long ago, so they were worth their face value and then some. Here’s what mine were worth, which ... Continue reading this article…

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10 Easy Ways to Save Money Without Much Effort

by Flexo

The holiday season is approaching, so I know I’ll be spending more money. I have even begun planning a vacation, and I want to make sure I can afford it. Additionally, I am projecting that my side business will make less money in the future and not allow for the career transition from full-time cube ... Continue reading this article…

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Grabbing the Last of the 5.65 APY CDs

by Sasha

Now that the Federal Reserve Board lowered the interest rate, it looks like we’re seeing the last of the 5.3 percent APY savings accounts, which appear to be a dying breed. I personally expect even these to disappear shortly; after all, why offer rates in the 5s when other banks are touting rates in the 4s ... Continue reading this article…

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Reader Question: What to Do After an Emergency?

by Flexo

Here is a question from a reader: I’d be interested on a post about what to do after you’ve dipped into your emergency fund considerably. How quick should you replenish it? What are the best ways to replenish it? Is it worth backing off on funding things like Roth IRA’s to build back your emergency ... Continue reading this article…

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Guest Post: Ditch the Car and Save a Bundle

by Flexo

Ryan Waggoner is an Associate Product Manager with CNET Networks, working primarily on GameSpot. He writes about entrepreneurship, real estate investment, and technology at ryanwaggoner.com. In this guest post, Ryan talks about his experience without a car in San Francisco. My wife and I moved to San Francisco from Colorado about 10 months ago. We ... Continue reading this article…

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Guest Post: Cutting Down the Cost of Razor Blades

by Flexo

This is a guest post from Matthew Paulson. Matthew writes about money on his blog, Getting Green. While I save money on shaving by using water rather than shaving cream or gel, Matthew has another idea. I noticed that my razor was getting dull the other day, so I did what everyone does and went ... Continue reading this article…

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Guest Post: Quality Clothes for Less than a Buck

by Flexo

Sharon Harvey Rosenberg is a columnist for the Miami Herald. She writes about about saving money and the art of being frugal in her column as well as on her blog, The Frugal Duchess. In this guest post, Sharon writes about making the best choices in clothing through the concept of cost-per-wear. It’s a cute ... Continue reading this article…

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ING Direct Offering 10% APY Promotion… In Spain

by Flexo

According to BlogAhorro, ING Direct is offering existing customers 10 percent APY for one month. Here is a rough translation: ING Direct has sent a letter to its customers offering a 10 percent APY for its Orange Savings Account for one month. In order to qualify, make a deposit from any other bank before April 5, 2007. ... Continue reading this article…

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Question from Reader: Swiss Bank Accounts

by Flexo

Here’s a question I received from a reader regarding the Premium Certificate of Deposit accounts at Millennium Bank: Have you ever heard of a bank called Millennium Bank? They are Swiss, not FDIC insured, and will give me 7.25 percent on a 1-year CD, which is not redeemable until maturity. I really want to do it, ... Continue reading this article…

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Americans Aren’t Saving, Little Splurges Add Up

by Flexo

Here are some interesting survey results from the Pew Research Center. 77 percent of Americans describe themselves as “always looking for more ways to save money,” while 18 percent don’t even try to save. 63 percent believe they should save more, while 32 percent believe they are saving enough. How about spending more than one can afford? Today, a ... Continue reading this article…

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Rate Update: HSBC Direct Offering 6% APY

by Flexo

There’s a catch: If you want to earn 6.0 percent APY, you’ll need to deposit “new money” into an HSBC Direct account. Money transfered out and then back in doesn’t qualify; only your net increase does. This special rate will only last until April 30, and their regular interest rate is currently 5.05 percent APY. It’s not ... Continue reading this article…

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Get Your Tax Info (1099-INT) From ING Direct

by Flexo

If you have a savings account at ING Direct, you should now be able to download the tax form that outlines the amount of interest you received throughout 2006. Here’s how to get it. Log into your account at ingdirect.com by providing your account security information. Click the “Tax Info Available Now!” icon located on ... Continue reading this article…

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Forget About the Latte Factor

by Flexo

See also: Put Your Savings Into Hyperdrive, Part 4: The Expensive Coffee-Related Drink Factor. I’m sure a number of regular Consumerism Commentary readers have heard about “The Latte Factor®,” the idea (trademarked by David Bach) that cutting back on a cup of gourmet coffee each day will result in wealth in the long term. My ... Continue reading this article…

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Rule for Building Wealth: Make Saving Automatic

by Flexo

In July 2002, I opened an account at ING Direct and created a scheduled transaction. Every two weeks, when my day job paycheck was deposited, a portion of this money was automatically passed through directly into my new Emergency Fund. A few months earlier, I became eligible for investing in my company’s 401(k). This is ... Continue reading this article…

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Saving for a Wedding Next Year

by Flexo

Word must be getting around the office that I’m up on the current personal finance issues in the world. A coworker who I don’t normally work with came to me to ask my opinion the other day. She’s saving for her wedding, seven months from now. The soon-to-be bride, who received some money earmarked for ... Continue reading this article…

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Extreme Savers Greg and Tara: We Have Some Things in Common

by Flexo

CNN Money seems to have switched its focus from “Millionaires in the Making” to “Extreme Savers,” and today they have an article about Greg and Tara Black. They earn $48,000 and live in Charlottesville, Virginia. They shop at Kohls and JC Penney for clothing, as I do. Their entertainment comes mainly from Netflix, of which ... Continue reading this article…

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Money Magazine: 25 Rules to Grow Rich By, Part 4

by Flexo

Money Magazine came up with 25 “rules of thumb” that will help your grow rich, albeit very slowly. Rules of thumb are often appropriate only for a fictional “average person,” but they can be good starting points for determining what is the right choice for any individual. I’ve looked at the first fifteen so far, ... Continue reading this article…

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Money Magazine: 25 Rules to Grow Rich By, Part 3

by Flexo

Last week, I started a short series looking at Money Magazine’s 25 rules to grow rich by. I’m breaking down the advice within the article into five separate blog entries here; you can find part one here and part two here. Here are the next five tips, with a bit of my own commentary thrown ... Continue reading this article…

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Money Magazine: 25 Rules to Grow Rich By, Part 1

by Flexo

Money Magazine seems to be publishing some good content lately. First, it was 7 shortcuts for major money hassles, and today it’s a larger feature on 25 rules to help you grow rich. I’ve never been one to play by the rules, which in my opinion, are made to be broken. In fact, I hate ... Continue reading this article…

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