It seems like with the bad economy, saving interest rates are dropping like a rock. My GMAC Bank account has gone from 3.25% to 2.5%, and I have a hunch it will go lower. Others have gone down to 1.8%, such as EmigrantDirect, which used to offer the highest in the nation. Such a shame that it's gone down so much...
Despite the fall, it's still good to save in these accounts. First of all, you at least get 2.5%, which is better than 0% that many checking accounts offer. Having a separate online savings account also allows you to save your money instead of spending it all because it was in one pot. Online savings accounts also let you link multiple banks to transfer in/out of (imo, GMAC Bank is the easiest to use and add accounts to, and is fast in transferring!), which could let you move money between accounts that do not offer ACH transfers. Just have some money in there, execute a transfer from account #1 to online savings, and then do another transfer to account #2.
Saturday, March 14, 2009
Friday, February 27, 2009
long time... and yodlee!
I have to admit, it's been a lot harder to keep up with this than I thought! Manually updating my budget/finances has been harder than I thought, as I didn't want to do the additions manually. However, I was able to find an awesome website that might help me keep up here on a more regular basis. It's called Yodlee.
Pretty much it's a online aggregator for all your bank and investment accounts, as well as a few other types. It can keep track of your budget, cash flow, credit utilization, net worth, and more, all automatically for you. It really helps especially if you carry cards across multiple issuers, and saves you the hassle of having to go log into each site individually.
As for security issues, there may be some concern about having so much info contained in one place. But I trust that their site is secure, due to the fact that Bank of America apparently utilizes this site.
So if you're looking for a way to simplify your financial life, try out the site. You'll love it.
Pretty much it's a online aggregator for all your bank and investment accounts, as well as a few other types. It can keep track of your budget, cash flow, credit utilization, net worth, and more, all automatically for you. It really helps especially if you carry cards across multiple issuers, and saves you the hassle of having to go log into each site individually.
As for security issues, there may be some concern about having so much info contained in one place. But I trust that their site is secure, due to the fact that Bank of America apparently utilizes this site.
So if you're looking for a way to simplify your financial life, try out the site. You'll love it.
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