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Savings
savings???
what accounts best for putting in a large deposit 3k then adding to it every month ?100 but not taking anything out for 3years in the uk...
kaz:an isa is good in the UK but you can only deposit 3000 per year. which would not meet your needs. Its worth talking to a finanial adviser. which is free with a bank.... More...
savings??????????????
umm, can people help i really wanna save and me and my boyfriend go away but i have a money spending problem, can anyone help me or give me any clues or hints or suggestions on how to save that will be greatful??...
az:Get a budget.
Write down everything you spend money on in a day/week/month. Then decide how much you can afford to put into a savings account. Then do it everyday...at least 1 dollar.
Then give yourself an allowance. Say $Q a week. Once you hit your allowance you can't buy anything e... More...
Savings Bond or Cash?
Okay, so there is this competition I want to enter but it asks at the bottom if I win, would I prefer cash or a savings bond....I know what a savings bond is but when do you get the money? And which one would be better...cash or a savings bond if the prizes are...
a) $2000 U S savings bond or $1000 cash
b) $1,500 U.S. Savings Bond or $750 cash
c) $1,000 U.S. Savings Bond or $500 cash
d)$200 U.S. Savings Bond or $100 cash
thanks a bunch!...
karken1992:Savings Bonds mature at different rates. You can usually cash them for the amount paid (actually a little bit more) after one year. But a lot of them take 10-30 years to mature to face value. I would probably do the cash and invest in something else.... More...
wamu statement and online savings?
I have had a wamu 'statement' savings account for a couple of months. Just applied for the online checking & savings account for the higher apr. When i log in, i have checking, 'statement' savings, and 'online' savings.
Is it possible to combine them or close one of the savings account? Like, possible transfer all of the money from my old 'statement' savings account to my 'online' savings account and go to the local branch nearby to close the 'statement' savings account?
It says i ca...
Nicole D:In order to receive that higher interest rate you have to have the online savings( and keep the checking account open) . If you only want one savings account you can close the statement savings either in the branch or call customer service, they can transfer the funds and close the account out. ... More...
Interest on Savings Bonds and Interest on Savings Accts.?
I have a few u.s. savings bonds with an interest rate of like 3.9& and some with 4%. I also have a regular savings account that gives me 4.65% apy.
Is the interest on savings bonds the same as interest on savings accounts? I mean, its gonna take until like 2025 for one of my savings bonds to mature fully to the amount of 200 dollars. Would I be better to just take all of my bonds out now even though they are not matured and put them in savings? Would I get more money that way? I bough...
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Savings vs Paying Off Student Loans?
I have approximately $48k in student loans left after paying off $4k of the principle in the last year. The interest on the bulk of the loans is 8.5 with two smaller loans at around 4. I've been over-paying on the former and just paying the minimum on the latter. Is this my best plan?
I've also been stocking money away in to savings, and that's sitting at $7k. The interest rate on my savings account is atrocious, but I do want to keep some savings for when I go to grad school (so I ca...
Kurt B:First, paying off high interest debt is better making low returns on the same amount of money. Think of it this way: You owe $100 at 10% interest, and you have $100 in savings at 5% interest. After one year you will owe a total of $110, but will only have $105 in savings. You have lost $5.
... More...
Best online savings account?
Hi all. Most of the time i never put any money in a saving account for interest which was very stupid of me. A few days ago i put a couple of thousand dollars on IngDirect for 4.2 percent since i heard it was real good and simple since there were no fees, penaltys etc and basically all these savings accounts shown on bankrate.com are FDIC insured up to 100K.
I know other savings accouts like hsbc offer more ... 4.5 percent and some places like ETrade offer 5.05 percent savings. I chos...
RateZip.com:according to http://www.ratezip.com bank interest rate search engine Amtrust Direct is offering a 5.13% High yield savings account currently. Amtrust is a regular bank focused on deposits, not mainly a mortgage company like Countrywide, so I would feel confident. ... More...
Negative savings rate?
I keep hearing this negative spin on how America has a negative savings rate. But I don't believe investments are included in this number. You could say that I personally have a negative savings rate because I don't have a savings account, but is it really a negative savings if you put your hard earned money into investments rather than a savings account...and let the bank make money on investments? And I think a lot of Americans think like me, so why do we get such a bad reputation for inves...
stocker:The Federal Reserve Board does take into consideration investing as savings. What it looks at, in simple terms, is whether consumers are spending more than they earn or less than they earn. If they spend less than they earn, then the balance is either going into bank accounts or investments. However... More...
Keynes-Savings Equals Investment?
I know that Keynes says savings equals investment, and I think I understand that. I'm studying for a final and my professor wants to know why savings doesn't always equal investment. Any ideas? Thanks!...
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Best bank for savings account or CD?
I currently have 3K i put in a savings account at a local bank but it is terrible. It has a 0.025 percent interest rate. I am planning to put 5K in another bank that pays good interest. The only reason why i had money there was b/c they would give me a credit card because I had a hard time getting credit card at other banks.
I live in nyc and i have been reading about all the banks that offers savings accounts that offer 5 percent interest or APY, not sure which one it is.
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mister ed:OK here is an ideal -- your bank like mind might be having Cd's as low as 1k with an interest of 5.21 for 7 months -13 and 15 21months == don't ask me why they picked those months == anyway with Cd's it is better to "ladder" them than should you only need part of the money you would only loose th... More...
savings bonds?
I have 875$ worth of savings bond (according to the value printed on the savings bonds themselves) and the earliest one is from the year 2004. I have tried to find information about them online but I haven't been getting that much.
My understanding as of right now is that the savings bond do not reach their full value for up to 20 years but that it is best to cash them after 5 years. Before then if you cash them you will be losing money.
Can people who have receieved savi...
NunyaBidNess:Start at half the face value for purchase price. Add about 4%/ year for Interest...
So you'd be looking at about $480 redemption value...
Foolish move, IMNSHO.... If you cannot control your urges to spend now, what are you going to do when you have a credit card with a $5K lim... More...
Online savings account...E-Loan, ING Direct, somewhere else???
I am looking to open an online savings account. I already have some money in a CD, so I'm looking for a savings account because of the flexibility. I noticed e-loan has one with a variable 5.25% savings account with min. $5000 to open. ING has a variable 4.50% savings account with no min. to open. Are either of these companies reputable? Are there other companies online I should look at?...
strath:The rule in interest rates is that the higher the risk, the greater the interest that must be paid in order to attract deposit capital, and you can see this rule in effect in the two examples you've mentioned.
E-loan is a finance company that finances risky loans like 2nd mortgages, cars,... More...
Child's Savings Account?
I would like to give money in some form to each of my nephews for Christmas. I thought about opening a savings account for each of them in their name and my name, is this even possible? Also, while their mother is getting her college degree they are using government assistance, food stamps, medical card, etc, if they have a savings account will this affect their assistance?
Would a bond be a better route than a savings account and who pays taxes on interest of a savings account? I need sug...
artsy_lovely_lady:Yes and yes. You can set up a joint account with anybody and yes, it may affect their government assistance. I think a savings bond is a better idea because it won't kick in for years and therefore it won't really change their income status. Set up a trust for the kids and put the savings bonds i... More...
Will this savings plan work??
Check my math.
I'm trying to find ways to save money. I think by doing this, I can actually put money into my savings account without doing too much work. It's very hard for me to put money into my savings account each week by myself. If I do direct deposit, that should make it easier on me. My theory is as follows....my mortgage payment is $555/mo, if I direct deposit $150/wk into my savings account, every 4 weeks I deposit $600. At the end of the month, when the mortgage is due, I transfe...
Rich B:No flaws! Your math is correct and you are to be commended for your efforts. You won't miss the $150 per week if you don't see it on your paycheck. You'll learn to adjust. Having the mortgage taken out is a good plan, too. You'll have an extra $45 per month, plus an extra $150 on top of that whe... More...
ING direct savings account?
I am thinking about opening a savings account with ING. I want a place to stick a bit of money every month and let it accumulate, so I have a bit of a savings account in case of an emergency. I am planning on putting in $30 a month for the first little bit (I'm a stay at home mom and can't afford much more!!)
Can you tell me if you think ING savings accounts are a good or bad idea, and why?
I just really want to start somewhere with saving money! And I like the idea of paying into a s...
JL:I've banked with ING Direct for years, and I do the same thing. The nice thing about ING is that you can set up your own savings schedule (ie, every week, two wees, or monthly), so you never really miss the money coming out. The interest rate is competitive, and there are no fees. The only warnin... More...
Are there savings accounts that automatically deposit interest on a weekly basis?
If someone had a significant amount of liquid assets, are there high-yield savings accounts that automatically deposit interest on a weekly basis? Most people currently use ING Direct, Citibank, Emigrant Savings and other credit institutions to gain monthly interest out of their savings, but I was under the impression that some credit institutions offer special savings accounts for people with enough principal. Is this true?...
Preppy C:Define significant, that can be relative/subjective rather than objectice. And if significant enough then why in a savings account, why not in more attractive option, based on risk tolerance, age, income, objective, etc. Most banks offer certificates of deposit. That's an option with attractive y... More...
Savings vs Debt?
I have around ?8k in ISA savings. I also however have around ?7k in various overdrafts and debts. common sense tells me I earn less in interest on the savings than I am charged in interest on the debts. however I like having the savings there as rainy day money. Should I just get rid of the debt using the ISA?...
karioth:Yes, paying off debt is more important than having a rainy day fund. If you have a lot of debt, and the rainy day is particularly bad, and your savings cannot pay for it, you'll be in a bad position to try to borrow more. However if you are more or less balanced, getting more loans is less difficult... More...
High interest savings. ING Direct savings or ETrade Complete?
Ok, I've been wanting to open a high interest savings account for the last month and am finally getting around to it.
I was planning on opening an ING Direct savings account with 4.10% APY, but I just came across an ETrade Financial Complete savings account with 5.05% APY.
If it was just about the numbers, obviously I would go with ETrade. ING was reccomended to me by my brother and a teacher. So I know people have had good experience with it. But it seems that the ETrad...
Sendy:ing direct
http://home.ingdirect.com/promo/promo_set.asp?t=%a3%43%67%68%6e%63%63%6a%62%68%69%66%63%6e%9a%66%68%62%66%63%67%67
I never have savings because I always spend it... advice please?
Every time I have even $500 in savings I spend it. I spend it on what seems to be important, like upgrades for the house. And I am sure I am increasing the value, but I just have a really hard time leaving savings alone. That is why I only have $900 in savings. I finally paid off our credit cards (for the 3 time). But I usually spend my savings and then become desperate for dental work or car repairs or christmas or whatever and then my credit cards get pulled out again. How can I teach myself t...
Michael I:Set up another savings account at ING or another bank. Have money from your paycheck directly deposited into the account. Throw away the ATM/Check Card you may receive for the account. Set up to have electronic emails sent instead of paper statements.
Be sure to select a Bank or organization th... More...
Savings Account vs Money Market Account?
My boyfriend and I have savings accounts with our credit union. We each have $1500 in our savings accounts and get 75 cents in interest every month. I am seriously considering getting a Money Market account with Capital One. Are there any advantages to having a savings account over a money market? Other than over draft protection?
The Capital One Money Market says:
Service and maintenance fees do not apply to this account. You need $1 to open an account, but you'll earn interest on any...
?endrick:Money Market accounts have higher interest rates, but you're restricted to how much and how often you can take money out of the account. Also, there is usually a minimum balance required.
You may want to call your credit union, as many actually have money market accounts themselves.... More...
Savings acount?
I have washington mutual...under savings, i see money being taken out and it says ''INTEREST PAYMENT/SERVICE CHARGE''.
money is coming out of my savings this way.what does all of this mean..yes, this is my first acount.
p.s i havnt used this acount for a while and i couldve sworn i had money in my savings.....
gear jammer:if you do not maintain a certain balance determined by bank they may charge a monthly service fee... More...
If I have both a savings account and checking, can I withdraw from the savings if the checking is overdrawn?
I have an account with Wells Fargo bank, with both a savings and a checking account. Normally I put all my money in checking, and don't really use the savings. But I tend to overdraw the checking account, and I end up paying bills late. If I were to store money in the savings account, but my checking ends up in the negative, can I still withdraw and use the money from the savings account, and pay off the balance on the checking account at another time, or will the bank take money from the saving...
HannaH:if you do not have to keep a minimum in either account, ask your bank about overdraft protection. That is, you pay a certain amount into a "special holding area" of sorts, where if you write checks and do not have enough in your checking to cover them, they will start taking out of your overdraft p... More...
Is a savings account even worth it? (See my details below)?
I just got a full time job, and only have a checking account. I got rid of my savings account while in college because it seemed like I was just adding an extra step in my check-writing process (i.e. - transfer from savings to checking to make sure checks are covered) and in return I'd get almost nothing in interest. Now that I'm making more money, is a savings account really even worth it? Or should I just keep it all in checking for convenience? (By the way, I do NOT want to put my money into ...
UrbanMan USA:A savings account is not just about interest. If you remove money from your checking account, hopefully it is "out of sight and out of mind" and you won't spend it! Use a savings account as a way to segregate money you don't want to touch while living your day to day life.
After you get... More...
Savings or Certificate of Deposit?
I received a check for $2,000 and want to put it away either in a savings account or CD. I am a bit unsure where to put it. I know that a CD offers better rates than a regular savings account; but a savings account offers the flexibility of withdrawing the money at any given time. I am not very disciplined with money and know that if I have easy access to it I will spend it. That's why I am leaning to a CD (limited access); with rates lowering though, would it be a good idea?
Sugg...
bfdavis1972:A money market might also be a good option for you. It would definitely pay better than a savings account, but be more liquid than a CD. The risk you run with a money market is that interest rates may be cut again, lowering the amount you'd be making. If you get into a CD you are locked in (unles... More...
Savings / Net Savings?
When two terms are used in a document - savings, and net savings, exactly what is the difference?
Thanks.
Sorry I will be more specific, this is looking at a business proposal. I have an amount of savings that I am told they will make in a year from running the business differently, and I need to know what the net savings are.
I can't seem to find a definition of "net savings" as differing from an annual computation of moneys saved to be able to correctly answer the q...
Petra:Some of the savings will cost money. If you saved ?1000 by installation of a piece of machinery costing ?400 your net savings for that year would be ?600.... More...
Savings Bonds?
What should I do with Savings Bonds after they have hit Maturity. Some tell me to leave them alone and some tell me to cash it in and get new Savings Bonds with them? It's my 6 years old son- his great-grandma gives Savings Bonds for his Birthday every year...
CFP L.L.:You aren't earning much interest with savings bonds. The only incentive would be the no tax distribution if it's used for education expenses. It depends on the type of saving bonds though. So do more research on the particular type you have and compare the interest rates and the potential tax sav... More...
Savings rates keep declining - When will it stop?
I have money in a savings account which does better than most CDs out there. But Ive noticed in the past 6 months, the savings rate is slowly dropping. When will this turn around? I could move it to another savings account with another bank, but everyones rates are dropping.
Yah, you know stocks are a stupid recommendation with it going up and down so much lately. Reports have stocks diving down to 7000 within the next 12 months and down to 4000 within 3 years. Stocks are the last thing I w...
raysor:Rates look as though they are coming down about another point. Look for fixed interest investment.... More...
Best savings account for self-employed individual?
I am looking to open a savings account this year, and was wondering what the best starter account for my budget would be. I am very frugal and save about half of my gross income. So, here's the stats: I'm 26, self-employed as a Pilates teacher in NYC, live with my boyfriend, and make $12,000 gross income every year. I'm also a full-time student, and have an expected contribution of $400 per year.
Should I stick with my current (basic) savings account, or look into a CD? I want t...
souffledunange:I'd say to look into the emigrantdirect.com or ingdirect.com sites for savings accounts (because it's good to have some money readily available in case of emergency) in addition to a retirement account such as a 401(k) or IRA. Since you're self-employed, you have the option of setting up a solo 401(... More...
is savings income tax always deducted @ rate 20 % in 2007/2008 tax year ?
in practice, why is any interest received on the bank savings always deducted at 20 % band rate regadless the amount of money from which the interest is derived for the purpose of calculation of income tax liablity? in tax year of 2007/2008
the tax bands for income tax on savings consist of :
basic rate :from 1 pound to 2230 pounds is taxable at 10 % rate
starting rate : from 2231 pounds to 34600 pounds is taxable at 20 %
higher rate : 34601 pounds to above is taxable a...
fengirl2:One step down is correct.
The basic rate of tax is 22% but there is a special savings rate of 20%. I think this was introduced to encourage savings.
If you are liable to tax at 22% you don't pay the extra 2% tax on savings income at the end of the year. However, if you are liable at 40%, t... More...
debit card and savings account..?
I opened a washington mutual account (checkings and savings).. They sent me a debit card..But recently my checkings was closed due to overdraft but my savings is still open. The savings is linked to the card....So can I make purchases at stores or can i only get money out of an ATM since its probably only linked to my savings. thanks!!!
hmm no for some reason they didnt take any money from the savings. they gave me a penny actually....but yea my checkings closed already. thnx again for ever...
Tommy H:Sorry ATM only, store purchase are called check card purchases, because the debit card takes the place of a check. If your account is still overdrawn they will take money out of your savings to cover what you owe in checking, just to let you know.... More...