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Saving

Saving With Low Income, Part 3

by Luke Landes

In this series, I’ve been taking a look at MP Dunleavey’s article offering a plethora of ways to save when income is tight. Here are more of the suggestions submitted by users and compiled by the article’s author. Part One is here and Part Two is here. * Buy generic instead of brand-name products. The ... Continue reading this article…

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Saving With Low Income, Part 2

by Luke Landes

Here’s the second article in which I’m visiting MP Dunleavey’s article about techniques for saving when a low income is working against you. Part One is here. * Create bank errors in your favor. MP suggests adding a little extra expense or a little less income when entering transactions into Microsoft Money or Quicken. I ... Continue reading this article…

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Saving With Low Income

by Luke Landes

MP Dunleavey gives her readers 19 ways to save when income is not quite as high as would be comfortable. The tips are practical and can be applied to just about anyone for whom saving more money is a goal, regardless of income. Here are some of her suggestions, submitted by readers: * Stash a ... Continue reading this article…

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Savings Account Interest Rates Updated

by Luke Landes

The table of savings and checking account interest rates has been updated to include some moves by Presidential, UFB Direct, and Virtual Bank.

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It’s Not What You Make, It’s What You Spend. Whaa?

by Luke Landes

A little tidbit gurus like to throw around is the first part of the phrase in the title of this entry. The second part is the sound Seth Green uttered as the voice of the character Chris Griffin in the new episode of Family Guy that was on earlier tonight. “It’s not what you make, ... Continue reading this article…

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Emigrant Direct Raises Rates and Offers Rebate Credit Card

by Luke Landes

For the latest information on the Emigrant Direct Rebate Credit Card, click here (January 2006). Emigrant Direct raised interest rates on its savings account to a wonderful 4.0 percent APY today, possibly to coincide with the Federal Reserve Bank’s increase of 25 basis points. I have updated the latest checking and savings rates table to include ... Continue reading this article…

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Emergency Funds, Doing Okay?

by Luke Landes

We hear all the time how Americans are not saving enough for emergencies. The “Emergency Fund” is heralded as the first step in getting a sound financial footing, before thoughts about investing in stocks or making large purchases enter the brain. The idea of putting aside cash for a (very) rainy day has been a ... Continue reading this article…

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Parking for Cash Only

by Luke Landes

CNN evaluates options for short-term cash savings, including savings accounts, money market accounts, and certificates of deposit. It’s a useful article for weighing the benefits and drawbacks of each type of account in order to find the right match for your situation. The article offers a chart of average interest rates offered across the country, ... Continue reading this article…

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Saving Up For The Next Vacation

by Luke Landes

I don’t have any concrete plans for another vacation, but I did take a step to organize my funds for a trip of some sort. Normally, I throw whatever change I have left in my pocket at the end of the day into a jar. (However, I do keep quarters separate since I need them ... Continue reading this article…

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ING Direct Moves Up But…

by Luke Landes

ING Direct has once again raised the interest rate offered on its online-only savings account. They now offer an annual percentage yield (APY) of 3.3 percent. This is still below the offerings of a number of other online institutions, but ING Direct gets great marks (in my opinion) for customer service and interface usability, if those ... Continue reading this article…

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The Emergency Fund

by Luke Landes

The first time I heard of the “Emergency Fund” concept was several years ago when I was checking out the message boards on the Motley Fool. I wasn’t in great financial shape at the time, but with my new job, I was seeing some improvement. Now that I understood the importance of an amergency fund, ... Continue reading this article…

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Savings Account Interest Rate Updates

by Luke Landes

Some Internet-based banks have raised the interest rates offered on their savings account. Check out the latest comparison, which features upward movements from UFB Direct, Capital One, and Virtual Bank.

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Start Saving More

by Luke Landes

Want some quick ideas for saving money? Bankrate (via Yahoo) gives us 15 ways to squeeze your budget. Most of these I already do, while some could use a little more work. Here is one that could afford more attention from me: Create a budget and track your spending. I track my spending but I ... Continue reading this article…

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Competitive Online Bank Accounts

by Luke Landes

For those who read this blog — or, for that matter, any blog dealing with personal finance — there are no suprises in this article from CNN Money, Online savings accounts duke it out. The article discusses ING Direct and its newer rivals in the higher-interest online-only savings bank scene, Emigrant Direct and HSBC. An ... Continue reading this article…

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Frugal Hotels?

by Luke Landes

As frugalists, we try to save money wherever possible by looking for bargains or cutting corners where plausible. Some hotels are apparently cutting some corners to save money, as well. Marriott International says it’s a growing industry trend to cut back on changing bed sheets every night. [H]otels are explaining the move as an effort ... Continue reading this article…

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Current Checking and Savings Rates

by Luke Landes

The table containing the latest checking and savings account rates has moved. Please update your links.

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Emigrant Direct, Moving On Up

by Luke Landes

Hot on the heels of ING Direct’s rate increase announcement, Emigrant Direct has raised the interest offered on their web-based savings account to 3.50 percent APY. I’ll update the table of the highest national Internet savings accounts over the weekend.

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Good ING Direct News

by Luke Landes

Good news for all ING Direct account holders. The bank has finally increased the rate on its savings account from 3.0 percent to 3.15 percent APY. Unfortunately, they’re still behind Emigrant Direct (3.25 percent), UFB Direct (3.40 percent), Presidental Bank (3.75 percent), and some others. Read on for some of the text of the announcement.

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Money Clubs?

by Luke Landes

Marshall Loeb mentions the popularity of money clubs, akin to the investment clubs of the 1990s. Much like other sorts of support groups, money clubs offer the unique opportunity of belonging to a group of people with similar desires, who can encourage, inform and brow-beat you as needed. (This sounds very much like the community ... Continue reading this article…

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Paying Himself First

by Luke Landes

Mike Rogalski is featured as one of CNN’s Millionaires in the Making. He’s a civil engineer working for the U.S. Department of Defense in Florida, making $84,500 a year. He chooses not to take advantage of an IRA for retirement savings, instead investing $33,000 in stocks and mutual funds. With $105,000 already put away in ... Continue reading this article…

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