As described by the Bureau of Economic Analysis (BEA), "personal saving" is the amount of money out of your income that you don’t spend and don’t pay in taxes. It’s what you can put in the bank or stock market. The personal saving rate is personal saving expressed as a percentage of disposable personal income.
Despite [...]
Following HSBC Direct, which raised its rate to 3.50% APY last month, E*Trade Bank will increase the rate of its Complete Savings Account from 3.15% to 3.30% APY tomorrow.
That’s a good news for me since I’m kinda hedging by saving most of my cash in both of these two banks.
Many wealth seekers say $1 million is no longer enough to be considered wealthy. Is $5 million really the new $1 million?
Everyone has own definition of “rich.” Let’s think about this, “rich” is a relative term, it means having more money than a defined group of people - our neighbors, co-workers, friends, etc. Ultimately, it really depends on who [...]
Anticipating rate hikes, one of my online savings accounts, HSBC Direct, has just increased its interest rate from 3.05% to 3.50% APY thru August 15, 2008 September 15, 2008 (Update: July 25, 2008) . More banks should follow suit soon.
Besides HSBC Direct, the majority of my cash is earning 3.15% APY at E*TRADE Bank.
Saving is about common sense, resistance to temptation, and personal priorities. Have you done the right things?
Consumer Debt: It’s hard to find a good reason to support that it’s brilliant idea to carry any kinds of consumer debt with an APR of 10% or more. If you have one, you should ask yourself why there [...]
Read full article...The entry was started a little bit more than a month ago since I have been a sideline watcher. The news in the past month was surrounding continuing housing weakness, subprime problems, faltering economic growth, and, most importantly, inflation fear. Although President Bush and Fed Chairman Bernanke have repeatedly said that the country isn’t [...]
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