Online Savings Accounts - High Rate CD Accounts | Kidssavingsaccount.info » savings account online

High Interest Savings Account Online | What’s The Big Deal Anyway

High Return Savings Account — Thu, 24 Sep 2009 19:18:13 +0000

A high interest savings account online makes a lot of sense when you have your finances squared away and have the ability to stash your non-emergency cash in a better yielding account. This online savings account is not for the money you need to pay bills or to provide emergency liquidity in the face of ill-timed payments and bills. This high interest savings account online is only for that cash which you hold in reserve for times when income is interrupted or when really big bills come in, such as a needing a new refridgerator or perhaps significant auto repairs. Expenses like those are (hopefully) sporadic, and usually are payable either in installments or with a short term use of a credit (which you pay off at the end of the month, of course). Sometimes Two Accounts Are Better Than One I actually opt to have not one high interest savings account online, but two. Differences in interest rates today aren’t that high because the Fed Funds rate is at a historic low right now, but when monetary policy tightens and interest rates go up, then differences in rates between local and online banks become much greater. Sometimes special offers at one [...]

High Interest Savings Account Online | What’s The Big Deal Anyway is a post from: Online Savings Accounts - High Rate CD Accounts | Kidssavingsaccount.info

Open a Savings Account Online | A Simple Way to Keep Up with Inflation

High Return Savings Account — Thu, 24 Sep 2009 01:00:24 +0000

Open a savings account online and you will be sure to keep your liquid reserve cash earning income at today’s most competitive short term interest rates. Leave your money in your local brick and mortar savings bank and watch inflation annihilate your cash reserves’ buying power. Simple Economics – Inflation Rate vs. Interest Rate The header to this paragraph may seem intimidating but once you see the concept explained it will be ridiculously simple. Trust me, you will not need a bachelor’s degree in Economics to figure this out. Ready? If the inflation rate is higher than your savings interest rate your savings account cash loses buying power every day. If your interest rate is higher than the inflation rate, your savings account cash gains buying power every day. What’s the lesson? Make sure as much of your savings account money is earning more than the rate of inflation as humanly possible. How do you do that? Open a savings account online. Why Open a Savings Account Online? Why Do Online Banks Pay Higher Interest Rates? I would hope the answer to the first question should be now obvious. An online savings account will pay higher interest rates, hopefully at [...]

Open a Savings Account Online | A Simple Way to Keep Up with Inflation is a post from: Online Savings Accounts - High Rate CD Accounts | Kidssavingsaccount.info