Along the lines of me taking over our bill paying/ finances...
We keep our emergency fund in our savings account. I hadn't been paying real attention, and HOLY SHIT, the interest is atrocious. As in, less that .01%. At this rate, we're actually losing money to inflation.
So, I want to move like $10k of savings into a more lucrative account that is somewhat accessible. I was thinking money market. Where else do people put their semi-liquid emergency funds?
My money market account is pretty bad for interest too. But that's where our e-fund is because it's slightly more than our regular savings account (and easy to access, but not TOO easy).
This isn't so great for an e-fund, but we do have a good chunk of money in laddered CDs (four separate 2-year CDs staggered so one matures every six months). I maybe 1.5% interest annually. So we plan for our e-fund to last 4-6 months, and after that we can tap into whichever CD is about to mature.
Ours is in a capital one 360 account. The interest isn't like the most amazing thing ever, but it's 0.75, and it gets to my regular account very quickly.
I used someone's referral link from here, so if you do decide to, here's mine if you want it, I think we both get $20. r.capitalone360.com/ZFahxJnjTx
.75% is higher than we'd get in a 24 month CD (.21%)...
Post by thatgirl2478 on Jan 10, 2015 20:37:24 GMT -5
Ours is in a capitalone 360 account too - the other nice thing about it is that it takes 3 days to deposit into your account so you have to REALLY think about why you're using it.
Ours is in a capital one 360 account. The interest isn't like the most amazing thing ever, but it's 0.75, and it gets to my regular account very quickly.
Sheesh! I remember when I first signed up for an ING savings account and the interest rate was like 3.5% or something crazy like that. How depressing. Although, the interest rate on my mortgage is almost that low now, so I suppose I shouldn't complain too much...
We use smarty pig. We get 1% interest and its a fun saving tool. Money is reasonably accessible (about a 3 day delay in closing a piggy bank and having $ in your account. Can't close a piggy bank for 9 days after making a deposit). We've had it for about 3 years and I have no complaints.
It looks like we can get .08% in the one offered through our main bank.
Abysmal. The MM rate at TD ameritrade aren't going to beat your bank, but you can pick fee fee EFTs.
I'm actually about to move our emergency savings to my TD account for that option. It's in a 0.75 account right now, but I'm frustrated with that account (for other reasons, namely, I can never remember the password and mint stopped working with it, so I can't ever get into it!)
Capital One, but really, rates are so low everywhere that if you're only keeping $10k in the account I wouldn't obsess about it -- you're talking about a negligible difference in interest.
Capital One, but really, rates are so low everywhere that if you're only keeping $10k in the account I wouldn't obsess about it -- you're talking about a negligible difference in interest.
Last month we earned $.78 on $17k. Why not just stuff it under the mattress at that rate!?
Capital One, but really, rates are so low everywhere that if you're only keeping $10k in the account I wouldn't obsess about it -- you're talking about a negligible difference in interest.
Last month we earned $.78 on $17k. Why not just stuff it under the mattress at that rate!?
Post by iheartbanjos on Jan 12, 2015 15:14:02 GMT -5
Also Capital One 360. I look at our E fund as insurance against job loss or some other emergency, so I don't think much about earning interest.
That being said, I have decreased the amount we keep in our efund by 60% as our non-retirement investments continue to grow. We have a solid 3-6 months in that account, and nothing more.
Ours is in a capital one 360 account. The interest isn't like the most amazing thing ever, but it's 0.75, and it gets to my regular account very quickly.
I used someone's referral link from here, so if you do decide to, here's mine if you want it, I think we both get $20. r.capitalone360.com/ZFahxJnjTx
I just used your referral link, FYI! Because $20 is more than I earned ALL OF LAST YEAR in our general savings account. LOL.