Counting My Pennies

  • About
  • Contact
  • Extra Money
  • Popular Posts
  • Toolkit
  • Privacy Policy

Becoming immune

December 18, 2008 By Megan Smith

The Frugal Duchess hosted this week’s Carnival of Personal Finance, and highlighted one of my posts!  Check it out.  It’s been a while since I’ve submitted to a Carnival of any sort, so it’s great to be a part of this one.

So this week, the Fed cut rates again.  Honestly, I think I’m becoming a bit immune to it.  When it first started, I found the dropping interest rates on my savings accounts incredibly frustrating.  Now I just sort of shrug.  As I’m writing this, my rate at ING Direct hasn’t yet dropped, though their CD rates have dropped.  Seeing as the 6 month CD is at 2.5% and the savings account is at 2.75%, I’d say that savings account interest rate is very likely to drop soon.  Otherwise, what would the incentive be to put money into a CD at all?

I have a CD that will come due in January and just got a message about that from ING Direct.  In previous months, they had been offering a .1% bump in the interest rate if you rolled the CD into a new CD.  That offer was not made this go around.

Like I said, in previous months, this would be frustrating me, but instead I just sort of shrug my shoulders and keep saving.  Earning any interest is better than no interest at all.

Filed Under: savings

Comments

  1. J. Money says

    December 18, 2008 at 2:17 pm

    oh man, yeah that’s stinky 🙁 i’m actually in the other end of the boat here since it decreases my HELOC interest every time the fed drops the rates.

    but there are def. other things i shrug on for sure 😉 def. out of our hands though…

  2. Learn The Stock Market says

    December 21, 2008 at 12:46 am

    Personally, with interest rates this low I prefer to buy big blue chip stocks with high “safe” dividends. You can find dividends out there over 3% with the potential of some capital appreciation.

Follow Us

  • Facebook
  • Pinterest
  • RSS
  • Twitter

Join Our Newsletter
  Thank you for Signing Up
Please correct the marked field(s) below.

1,true,6,Contact Email,21,false,1,First Name,21,false,1,Last Name,2



Our Most Popular Articles

  • Another MLM Gone – AdvoCare Changes Business Model by Megan Smith
  • What are the advantages and disadvantages of saving money? What are the advantages and disadvantages of saving money? by Megan Smith
  • Billie razor review Billie Razor Review by Megan Smith
  • lularoe dani LuLaRoe Dani – Another Don’t Buy by Megan Smith
  • Can You Earn Money Selling Young Living? by Megan Smith
  • Is Rakuten a Scam? by Megan Smith




Great Investing, Simplified: Get Stock Advisor for Just $99/year!

Survey Junky

Archives

Categories

Copyright © 2021 · Runway Pro On Genesis Framework ·