Deja vu? As predicted in my earlier post, HSBC Direct drops there rates to 3.80% APY. We are writing to inform you that based on the recent drop by the Federal Reserve, HSBC Direct has adjusted your Online Savings Account rate to 3.80% APY*. At 8x the national savings average**, you are still earning one of America’s highest savings rates.
HSBC Direct will continue to evaluate and respond to market changes so we can provide you with competitive rates. And if your rate changes, whether up or down, we are committed to always letting you know.
And with today's 50 basis point reduction, we'll expect once again that high-yield savings accounts will continue to reduce their rates next week. Tears falling from my eyes...
I just saw a banner for, what I believe to be, THE BEST PAID SURVEY SITE.
Applying for the panel cannot simply be done by just visiting their website. One must find a banner advertising that they are looking for people to survey.
Here is the website that I saw it: http://slickdeals.net/. Look to the the top left of the page. If it shows another advertisement, refresh the page a few times.
JOIN WHILE ITS THERE!! It is a very limited opportunity.
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Everyone knows that Bernanke has instated an emergency rate cut to resist an impending recession. Dropping the 4.25 percent interest rate by 75 basis points down to 3.5 percent would also lead to the reduced interest rates at the numerous banks with high-yield savings accounts. So far, ING Direct has already dropped their rates from 4.10% APY to 3.65% APY.
I'm with HSBC Direct which still has its 4.25% APY but this rate would most definitely not remain. Again, I'm frustrated at the continuous rate cuts that has followed the U.S. markets ever since I finally got the initiation to open a high-yield savings account.
By next week, I expect HSBC Direct to have a rate around 3.80% APY since their reductions seem follow the same amount that ING implements. A rate above my prediction would make me really happy.....
Sold: 29 shares of ESLR @ 10.46
I'm sick of the stock market! I HOPE THAT DAMN RECESSION COMES SOONER!
Whew! Venting is good... I'll be back in the investing field when I deem it profitable.
At last, it is here! After the search for my first credit card, I applied for the Citi® Dividend Platinum Select® Card for College Students and it finally came in the mail. Oddly, I was entitled to only a $3000 credit limit but that doesn't put me down since I know that I wouldn't be carrying a balance that is anywhere close to that amount.
One great feature that I found to be very practical and defensive, with regards to unauthorized purchases, were Virtual Account Numbers. It generates a substitute account number for an online purchase so that I won't be surprised by a fraudulent charge on the card.
Uncharacteristically, I charged the credit card the day that it arrived. I bought a prepaid refill minutes for my phone and a book from Amazon. So, I actively used that great Virtual Account feature to my advantage. Looks like it will become a frequent practice...
It's the FIRST DAY and I already have credit card debt? Well, of course not. I'll be paying it off online soon. (I hate to owe people stuff.)
P.S. Here are the links to carnivals in which The Search For My First Credit Card was presented.
As everyone else has done already, setting goals are important in financial planning. with realistically achievable goals, it gives purpose and motivation to complete them. I might as well do the same although I already had goals set in mind a while ago. To join the hype of resolution-making, I'll create a checklist as a record. In the order that I hope to pursue them, here are my financial goals for the year:
- Open a Roth IRA.
- Have $2,000 funded in my brokerage account.
- Have $2,000 funded in my Roth IRA.
- Have $5,000 funded in my high-yield savings account.
- Reach the total net worth of $10,000.
- College tuition
- DAT prep
- DAT fees
- Dental school applications