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Saving

Online Savings Accounts in the New York Times

by Luke Landes

The New York Times catches on to what bloggers have been talking about for years: online savings accounts earn more interest and are overall much better than the paltry traditional savings account. ING Direct led the newest initiatives in the United States in 2000, when it introduced the Orange account, and until recently it had […]

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Raising Interest Rates

by Luke Landes

Everyone is affected by raising interest rates, but different people are affected in different ways. CNN Money describes how a typical American (homeowner, spender, etc.) is affected by interest rates. Interest rates are simply the cost of borrowing money; the prices paid by institutions trickle down to the consumer. So if you’re in the market […]

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Capital One Interest Rate Now 4.25%

by Luke Landes

The banks keep raising the interest rates for their online savings accounts. Joey wrote in to inform me that “Capital One is up to 4.25 percent (annual percentage yield) in their high-yield savings account.” This bank has Joey’s favorite web interface. I’ve updated the list of online savings account interest rates.

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HOWTO Deal With Winning the Lottery

by Luke Landes

Are you more likely to play the major lottery when the jackpot is more than $250 million? If you happen to play, and if you’re really lucky, there’s a chance, however slim, you might win it all. Let’s say you just realized you’re taking home the grand prize and you’re the only winner. Now what? […]

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PayPal Lowers Money Market Fund Rate

by Luke Landes

There is a lot of talk on the internets about online savings accounts raising their interest rates for customers; here’s something a little different. PayPal has been offering for a while a pretty high interest rate — over 4.25 percent — on money held in their money market fund. Unlike money market accounts and savings accounts, […]

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American Express One

by Luke Landes

Editor’s Note: Thank you for your interest, this offer expired and is no longer available. American Express is offering a relatively new (well, a few months old) credit card called One. As you spend, 1 percent of each purchase is automatically deposited into a savings account. It’s not a horrible interest rate, beating that of most […]

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New Jersey Nest Eggs Incubating

by Luke Landes

A.G. Edwards has compiled results from a survey and has developed a “Nest Egg Index.” The statistics measured include participation in retirement plans, debt levels, home ownership — all major contributors to net worth. I found some items within the results personally interesting: My home state of New Jersey tops the index [cnn] of states, […]

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Bank of America’s Keep The Change

by Luke Landes

Some time ago, Bank of America introduced a new program for its checking account, savings account, and debit card holders called Keep The Change. A friend of mine asked me to write about this program quite some time ago, and I said I would do so. I try to keep my word. The premise is […]

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Review of The Number by Lee Eisenberg, Part 1

by Luke Landes

Over the next week or so, I’ll be taking an in-depth look at a book to be released next year entitled The Number, written by Lee Eisenberg. Before I get to the book, let me explain how the book came into my possession. At the end of October, I blogged about Lee’s article in New […]

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Update: ING Direct’s Saving Rate Drops?

by Luke Landes

When I chcked my accounts late last night, it appeared that ING Direct had lowered the interest rate offered on its online savings account to 3.0 percent (APY). I’m not sure what’s going on, but every page on ING Direct’s website, including the Fash animation, had the lower rate quoted, and this is after previously looking […]

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