April 19th, 2010
How To Go On Vacation & Keep Your Personal Finances Intact, Part 1
You’re itching to go on vacation but you don’t think it’s a financially smart move.
Right now, airfare and hotel prices are dipping, motivating Americans to start spending on travel again after a dead spell during the recession. With recession-friendly deals and smart money tips at your disposal, vacation time doesn’t have to damage all the hard work you’ve put into your budget, credit score, and financial health.
This 3 part travel series focuses on getting you from home to paradise and back again while maintaining your financial health. Topics include Staying Out of Debt, Protecting Your Credit, and Remaining Financially Fit while Traveling. Pack this guide to quench your wanderlust in an affordable and credit-savvy way.
February 15th, 2010
Compare And Choose An Online Savings Account
Americans’ renewed sense to save money is the silver lining of this rough recession. The personal savings rate averaged nearly 4.6% in 2009, while for most of the decade it barely reached 2.5%, reports the U.S Department of Commerce. As more and more consumers make their savings accounts a priority in their personal finances, the key features of online savings accounts will determine what the best-fit piggybank is for each individual.
Do you need a long-term hold on your money, or the ability to move money rapidly? Do you demand excellent customer service, or are you more concerned with restrictions on your account? Online savings accounts aren’t one size fits all; check out the following chart to learn more about which provider meets your needs.
November 25th, 2009
Best Bets in High-Yield Savings Accounts
Looking for the best online savings account with the highest interest rate? It took the wake-up call of the worst recession in recent history, but Americans are beginning to save their money more than ever before. Conscious consumers have saved up a total of $10 trillion this year in bank savings accounts, savings certificates, and money market mutual funds, reports the LA Times.
Unfortunately, interest rates for savings accounts aren’t as high as they used to be. The government’s unprecedented actions to drop interest rates to record lows has been great for cash-strapped borrowers, businesses, and banks, but it has also meant lower interest rates for bank account holders. However, online savings account can give a much better return for your savings than your average bricks and mortar bank, for which the national average is only 0.31% APY, and is less risky than playing your savings in the stock market.
If you are thinking about switching to a high-yield savings account or opening up one for the first time, we have compiled the following list of some of the highest yielding savings accounts to put your savings to work (all featured banks require no minimum balances, no fees, and are free to sign up). With economic recovery slow and shaky and the holiday season in the air, having a solid savings plan is the best way to ensure you have sufficient savings in your bank account for the upcoming year.
|
Interest Rate
|
Minimum Deposit
|
Plus Points
|
|
|
2.01%
|
$0
|
Designate a single goal to your account and friends and family can deposit cash directly to help you earn towards your dollar amount goal. Can also put a portion of your savings towards a gift card from one of Smartypig’s retail partners, like Macy’s or Travelocity, which will also earn you up to a 12% cash boost on your savings.
|
|
|
1.70%
|
$0
|
Offers direct banking 24/7 so you can manage your account via web or phone. Also, fee-free online electronic transfers.
|
|
|
1.64%
|
$0
|
Known for its no-nonsense, no gimmicks approach to banking, has a reputation of simple and straightforward banking practices. Offers live online customer service chat.
|
|
|
FNBO Direct
|
1.40%
|
$1
|
Can open up multiple accounts for different savings goals, which you can see and track all-together when you log-in.
|
|
1.30%
|
$0
|
Set up an Automatic Savings Plan that allows you to regularly transfer fixed amount of money from your linked checking account to your ING savings account. Also, you can create unlimited sub-accounts for different savings goals.
|
|
|
1.35%
|
$1
|
Aside from online account management, you also have access to your cash anywhere through an HSBC ATM, where you can deposit or withdraw from your online savings account.
|
*as of November 23, 2009; variable rates subject to change
