Monday, December 22, 2008

Bank CD Rates DOWN

Man deposits rebate check at Wachovia - duhI'm always buying 12 month cds but lately the returns have been getting much smaller. I just checked Wachovia and they are only offering 2.15% which is ridiculously low.

So I dropped by my safety fund bank - Emigrant Direct and they're a tiny bit better at 3% but over a 16 month time frame.

What's a girl to do but start looking at other on-line banks? I'm sorry Wachovia, but this stupid bailout is affecting my passive saving plan!

Looks like others are turning to the internet for money management help.

Don't you think auto-saving sites are kind of strange? Most adults should be able to save without having a bank automatically withdraw money from their accounts. I figure if you were so lousy at saving you have to dock yourself $25 a week to pay for next year's vacation what is the assurance the money won't be spent by the time auto-withdrawal time rolls around?