Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:
0.85% American Express High Yield Savings
0.85% FNBO Direct Online Savings
0.84% Ally Bank Online Savings
0.80% Discover Bank Online Savings
0.75% Capital One 360 Savings (formerly ING Direct)
0.65% Urban Partnership Bank Online Savings
0.20% Western FCU Money Market
0.10% Chase Plus Savings
0.10% Citibank Savings Plus
In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates.
Rates are believed to be accurate as of 4/15/13. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included a few credit unions in the list so that readers have a comparison point with banks.
It seems the Ally Bank Online Savings has dropped a couple of notches from the top position on this list. Also, ING Direct has been replaced by Capital One 360.
The frequent changes show how changeable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.
So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.
DC
Tuesday, April 16, 2013
Tuesday, March 12, 2013
Money Market Rates 3/13
Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:
0.85% American Express High Yield Savings
0.85% FNBO Direct Online Savings
0.84% Ally Bank Online Savings
0.80% Discover Bank Online Savings
0.75% Capital One 360 Savings (formerly ING Direct)
0.70% Urban Partnership Bank Online Savings
0.20% Western FCU Money Market
0.10% Chase Plus Savings
0.10% Citibank Savings Plus
In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates.
Rates are believed to be accurate as of 3/11/13. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included a few credit unions in the list so that readers have a comparison point with banks.
It seems the Ally Bank Online Savings has dropped a couple of notches from the top position on this list. Also, ING Direct has been replaced by Capital One 360.
The frequent changes show how changeable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.
So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.
DC
0.85% American Express High Yield Savings
0.85% FNBO Direct Online Savings
0.84% Ally Bank Online Savings
0.80% Discover Bank Online Savings
0.75% Capital One 360 Savings (formerly ING Direct)
0.70% Urban Partnership Bank Online Savings
0.20% Western FCU Money Market
0.10% Chase Plus Savings
0.10% Citibank Savings Plus
In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates.
Rates are believed to be accurate as of 3/11/13. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included a few credit unions in the list so that readers have a comparison point with banks.
It seems the Ally Bank Online Savings has dropped a couple of notches from the top position on this list. Also, ING Direct has been replaced by Capital One 360.
The frequent changes show how changeable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.
So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.
DC
Monday, February 25, 2013
Sponsor a Child: What to Expect
Most people give to charity one way or another. Some give up their time to help good causes, many routinely carry out acts of spontaneous charity for strangers, and most give money. And there’s a significant sector of charitable giving that opts for something very individual, involving and personal: sponsoring a child.
Sponsoring a child in need has been a part of the charity landscape for generations; the first scheme was inspired by the plight of children orphaned during the Spanish civil war of the 1930s. Since then, sponsoring a child has become a significant contributor, accounting for around US $3 billion annually channelled into changing lives.
At one level, sponsoring a child is like many other commitments to a charity: a monthly or annual payment goes from the donor’s account to the charity. There, the similarities end. This is a long-term commitment, usually lasting between ten and fifteen years, when the child is old enough to be independent. It’s worth considering this carefully before signing up.
Child sponsorships schemes vary and many are community-wide, which means the sponsored child and the community all benefit. The donor knows who the sponsored child is, where he lives and the challenges he and his community are facing, which helps to give context and a more complete picture of the child’s environment.
The sponsor and the child are in contact with one another, exchanging letters and photos and, in some cases, e-mails. Some schemes allow donors to send gifts, while other charities actively discourage this.
The sponsorship money is used in a variety of ways. Educating and raising the aspirations of the child is at the top of the list of priorities, as is his health and future opportunities. Some is invested in improving infrastructure, such as sanitation and agriculture, all of which ultimately benefit everyone in the community. Larger charities invest in the future of the community with training programmes, advocacy and economic development.
All donors receive regular updates on the child’s progress from the charity. This takes the form of school and health reports, news of events and developments in his community, and updates on the work of the charity.
A child will only have one sponsor, and it often happens that close bonds are formed between the sponsor and the child over many years, building a relationship and a real sense of connection and attachment. There are also some cases where the child’s expectations can be higher than the sponsor realises, so many charities advise sponsors to be aware of this.
Many happy and successful outcomes emerge from child sponsorships. Sponsoring a child takes commitment, and it’s as well to be prepared for more of an emotional rollercoaster than donating money to good causes in general. As in any relationship, there are rewards and pitfalls, but a good scheme is one that is run by well-trained professionals who will be happy to answer questions.
Charity is rarely out of the news, and it can be hard to see the human story behind the column inches and statistics that only tell a fraction of the story. This is charity with a human face, a name, and a life. Sponsoring a child is an opportunity to be a part of it.
Resources
About the Guest Author
Stacey is a freelance writer and is passionate about her family, two dogs, giving back to the community through volunteering for different charities and also about making a difference to young people's lives.
Sponsoring a child in need has been a part of the charity landscape for generations; the first scheme was inspired by the plight of children orphaned during the Spanish civil war of the 1930s. Since then, sponsoring a child has become a significant contributor, accounting for around US $3 billion annually channelled into changing lives.
At one level, sponsoring a child is like many other commitments to a charity: a monthly or annual payment goes from the donor’s account to the charity. There, the similarities end. This is a long-term commitment, usually lasting between ten and fifteen years, when the child is old enough to be independent. It’s worth considering this carefully before signing up.
Child sponsorships schemes vary and many are community-wide, which means the sponsored child and the community all benefit. The donor knows who the sponsored child is, where he lives and the challenges he and his community are facing, which helps to give context and a more complete picture of the child’s environment.
The sponsor and the child are in contact with one another, exchanging letters and photos and, in some cases, e-mails. Some schemes allow donors to send gifts, while other charities actively discourage this.
The sponsorship money is used in a variety of ways. Educating and raising the aspirations of the child is at the top of the list of priorities, as is his health and future opportunities. Some is invested in improving infrastructure, such as sanitation and agriculture, all of which ultimately benefit everyone in the community. Larger charities invest in the future of the community with training programmes, advocacy and economic development.
All donors receive regular updates on the child’s progress from the charity. This takes the form of school and health reports, news of events and developments in his community, and updates on the work of the charity.
A child will only have one sponsor, and it often happens that close bonds are formed between the sponsor and the child over many years, building a relationship and a real sense of connection and attachment. There are also some cases where the child’s expectations can be higher than the sponsor realises, so many charities advise sponsors to be aware of this.
Many happy and successful outcomes emerge from child sponsorships. Sponsoring a child takes commitment, and it’s as well to be prepared for more of an emotional rollercoaster than donating money to good causes in general. As in any relationship, there are rewards and pitfalls, but a good scheme is one that is run by well-trained professionals who will be happy to answer questions.
Charity is rarely out of the news, and it can be hard to see the human story behind the column inches and statistics that only tell a fraction of the story. This is charity with a human face, a name, and a life. Sponsoring a child is an opportunity to be a part of it.
Resources
- http://www.plan-uk.org/about-us/our-history/
- http://www.bbc.co.uk/news/world-13697855
- http://www.worldvision.com.au/OurWork/Solutions/SponsorAChild/FAQsChildSponsorship.aspx
About the Guest Author
Stacey is a freelance writer and is passionate about her family, two dogs, giving back to the community through volunteering for different charities and also about making a difference to young people's lives.
Sunday, February 24, 2013
Ditch Your Rewards Credit Cards and Save Money
Choosing a rewards credit card can seem like a great idea when you sign up. After all, who doesn't want free stuff?
The problem is, a lot of the time it’s not free – and unless you are a BIG spender, or you are super-smart about using your credit card, you could be spending more on your credit card than you are getting back in rewards.
So, how do you know when you should keep your rewards card and when you should ditch it for something smarter?
Annual Fees
The first thing to look at on your credit card is the amount you are paying in annual fees. As friendly as credit card providers may appear, they are not here to be your friend, they are here to make money. This means they generally won’t give away free stuff.
Look at how much you are paying in annual fees and compare it to how much you are getting back in rewards. In order to make their money back on the rewards they give out, many card companies charge more in annual fees.
You have to make sure you get your money’s worth. This can sometimes be achieved by using your card for all your purchases – more spending means more rewards. Just be sure to pay off the balance in full each month, or you will lose out in interest payments.
Or, choose a rewards credit card that charges no annual fee. Not always easy to find, but they are there.
Interest
Similarly, card providers can charge more in interest on rewards cards than regular credit cards. If you carry a balance on your card each month, then you are probably paying out more in interest than you are getting back in rewards.
To avoid this, either pay your bill in full each month, or choose a rewards card with low-low-interest.
Rewards
As odd as it sounds, some people choose rewards credit cards and don’t know much about the rewards program. They like the idea of having a rewards card, but don’t actually need any of the rewards. If you are set on having a rewards card, make sure it offers rewards you will use. Or, if you don’t need rewards at all, choose a cheaper standard credit card and save yourself some money.
Expired Points
Some card providers have expiry dates on their rewards points. This would mean your reward points get deleted if you don’t redeem them within a certain time period. If you spend small on your credit card, then it probably means you earn points slowly. However, this may mean your points will expire before you ever get a chance to use them.
Ditch or Keep?
The problem is, a lot of the time it’s not free – and unless you are a BIG spender, or you are super-smart about using your credit card, you could be spending more on your credit card than you are getting back in rewards.
So, how do you know when you should keep your rewards card and when you should ditch it for something smarter?
Annual Fees
The first thing to look at on your credit card is the amount you are paying in annual fees. As friendly as credit card providers may appear, they are not here to be your friend, they are here to make money. This means they generally won’t give away free stuff.
Look at how much you are paying in annual fees and compare it to how much you are getting back in rewards. In order to make their money back on the rewards they give out, many card companies charge more in annual fees.
You have to make sure you get your money’s worth. This can sometimes be achieved by using your card for all your purchases – more spending means more rewards. Just be sure to pay off the balance in full each month, or you will lose out in interest payments.
Or, choose a rewards credit card that charges no annual fee. Not always easy to find, but they are there.
Interest
Similarly, card providers can charge more in interest on rewards cards than regular credit cards. If you carry a balance on your card each month, then you are probably paying out more in interest than you are getting back in rewards.
To avoid this, either pay your bill in full each month, or choose a rewards card with low-low-interest.
Rewards
As odd as it sounds, some people choose rewards credit cards and don’t know much about the rewards program. They like the idea of having a rewards card, but don’t actually need any of the rewards. If you are set on having a rewards card, make sure it offers rewards you will use. Or, if you don’t need rewards at all, choose a cheaper standard credit card and save yourself some money.
Expired Points
Some card providers have expiry dates on their rewards points. This would mean your reward points get deleted if you don’t redeem them within a certain time period. If you spend small on your credit card, then it probably means you earn points slowly. However, this may mean your points will expire before you ever get a chance to use them.
Ditch or Keep?
- If you are getting more back than you are paying on annual fees and interest: Keep.
- If you are paying out more than you get back: Ditch.
- If you are not getting the rewards you want: Ditch (or Switch to another card with a better rewards program).
- If you are losing your points before you can use them: Ditch.
Thursday, February 7, 2013
Australian Charities and Organisations That Assist the Unemployed
[Editor's Note: The following guest post was provided by Richard from Simple Living Australia, a personal finance and lifestyle blog which helps readers make informed financial decisions.]
There are times in our lives due to the economic downturn where a little assistance can go a long way. When unemployment or an illness has taken away the primary income in the family; outside help may be required. Fortunately, there are many charitable organisations in Australia can help you out. Non-profit organisations and charities may not be what immediately come to mind when you need a hand, but they can really make a difference.
Major charities have annual revenues that can easily exceed $100 million, and a lot of them get support from churches, wealthy individuals, and other major enterprises that want to help the deprived. There are even certain specialist lenders that provide emergency unemployment loans. Let’s take a closer look at some the most significant Australian charities that want to assist the unemployed and have managed to really make a difference over the years.
Fitted for Work
Fitted for Work is an organisation aimed at women who are unemployed, who want to obtain a job, and ultimately manage to attain financial independence. They sponsor professional dress and mock interviews. They also have a transition to work program. Read their success stories, they will inspire you.
Job Support
Jobsupport has been helping people with disabilities to get a job for nearly 20 years now. The organisation is one of the most important in Sydney, and they’re constantly struggling to make society understand that handicapped people have the right to work and add their share of contributions to the state.
Boys Town
BoysTown is an organisation that helps young people, children, and families overcome severe disadvantages such as long-term unemployment, abuse, mental illness, and homelessness. The charity is fully committed to enabling and inspiring people reach their potential and overcome financial difficulties. Some of the main services include crisis care, employment, counseling, parenting, social development, education, life skills, and more.
Dress for Success
Dress for Success is an organisation that appeals to women who haven’t worked in years. The main goal of the charity is to help the ladies re-enter the workforce. They want to make a difference, and therefore they’re trying to help women through various means that they can make it on this economy even if they lack experience.
The charitable sector in Australia is extremely large. Thankfully, they offer a plethora of services and products delivered by non-profit organisations and charities. There are nearly 60,000 non-profit organisations currently active in Australia. Most of them are focused on specific communities and they operate locally. However, some of them are so expansive; they are able to help a huge number of unemployed Australian citizens. Notable organisations such as the Salvation Army, the Australian Red Cross, and the Sydney City Mission have hundreds of volunteers and paid workers. Like the charities listed previously, the unemployed are in good hands when they use the services of these organisations.
Even though times are tough; there are many charitable organisations that are available to help you. Put your pride aside and let them help to plant your feet on solid ground. Who knows, some day you may be able to pay it forward and help someone else or at least point them to one of these amazing organisations.
About the Guest Post:
The opinion expressed is that of the guest author. If you are interested in writing a guest post, please contact PF Stock at the Email address listed in the sidebar.
There are times in our lives due to the economic downturn where a little assistance can go a long way. When unemployment or an illness has taken away the primary income in the family; outside help may be required. Fortunately, there are many charitable organisations in Australia can help you out. Non-profit organisations and charities may not be what immediately come to mind when you need a hand, but they can really make a difference.
Major charities have annual revenues that can easily exceed $100 million, and a lot of them get support from churches, wealthy individuals, and other major enterprises that want to help the deprived. There are even certain specialist lenders that provide emergency unemployment loans. Let’s take a closer look at some the most significant Australian charities that want to assist the unemployed and have managed to really make a difference over the years.
Fitted for Work
Fitted for Work is an organisation aimed at women who are unemployed, who want to obtain a job, and ultimately manage to attain financial independence. They sponsor professional dress and mock interviews. They also have a transition to work program. Read their success stories, they will inspire you.
Job Support
Jobsupport has been helping people with disabilities to get a job for nearly 20 years now. The organisation is one of the most important in Sydney, and they’re constantly struggling to make society understand that handicapped people have the right to work and add their share of contributions to the state.
Boys Town
BoysTown is an organisation that helps young people, children, and families overcome severe disadvantages such as long-term unemployment, abuse, mental illness, and homelessness. The charity is fully committed to enabling and inspiring people reach their potential and overcome financial difficulties. Some of the main services include crisis care, employment, counseling, parenting, social development, education, life skills, and more.
Dress for Success
Dress for Success is an organisation that appeals to women who haven’t worked in years. The main goal of the charity is to help the ladies re-enter the workforce. They want to make a difference, and therefore they’re trying to help women through various means that they can make it on this economy even if they lack experience.
The charitable sector in Australia is extremely large. Thankfully, they offer a plethora of services and products delivered by non-profit organisations and charities. There are nearly 60,000 non-profit organisations currently active in Australia. Most of them are focused on specific communities and they operate locally. However, some of them are so expansive; they are able to help a huge number of unemployed Australian citizens. Notable organisations such as the Salvation Army, the Australian Red Cross, and the Sydney City Mission have hundreds of volunteers and paid workers. Like the charities listed previously, the unemployed are in good hands when they use the services of these organisations.
Even though times are tough; there are many charitable organisations that are available to help you. Put your pride aside and let them help to plant your feet on solid ground. Who knows, some day you may be able to pay it forward and help someone else or at least point them to one of these amazing organisations.
About the Guest Post:
The opinion expressed is that of the guest author. If you are interested in writing a guest post, please contact PF Stock at the Email address listed in the sidebar.
Friday, January 4, 2013
Money Market Rates 1/13
Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:
0.95% Ally Bank Online Savings
0.90% American Express High Yield Savings
0.85% FNBO Direct Online Savings
0.80% Discover Bank Online Savings
0.75% ING Direct Orange Savings
0.65% Urban Partnership Bank Online Savings
0.30% HSBC Advance Online Savings
0.20% Western FCU Money Market
0.10% Chase Plus Savings
0.10% Citibank Savings Plus
In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates.
Rates are believed to be accurate as of 1/3/13. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included a few credit unions in the list so that readers have a comparison point with banks.
It seems the Ally Bank Online Savings is still at the top position on this list while increasing their interest rate to 0.95%.
The frequent changes show how changeable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.
So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.
DC
0.95% Ally Bank Online Savings
0.90% American Express High Yield Savings
0.85% FNBO Direct Online Savings
0.80% Discover Bank Online Savings
0.75% ING Direct Orange Savings
0.65% Urban Partnership Bank Online Savings
0.30% HSBC Advance Online Savings
0.20% Western FCU Money Market
0.10% Chase Plus Savings
0.10% Citibank Savings Plus
In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates.
Rates are believed to be accurate as of 1/3/13. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included a few credit unions in the list so that readers have a comparison point with banks.
It seems the Ally Bank Online Savings is still at the top position on this list while increasing their interest rate to 0.95%.
The frequent changes show how changeable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.
So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.
DC
Tuesday, December 18, 2012
Car Insurance Tips for Younger Drivers
The day young people gain their driver’s licence is a big day, a license means increased independence, more freedom, and for many it’s the first major step on the road to the rest of their lives. But gaining a driver’s license also brings with it a large measure of responsibility, both to the driver and to other motorists. Being a licensed driver means adhering to road rules that protect lives. It means maintaining your vehicle so that it’s always in a safe state to travel. And it means having the right car insurance in case the worst should happen.
However, the issue of car insurance can be daunting for many younger drivers as there are many factors involved in insurance companies determining the type and level of cover they will provide you. So here is a quick guide to some key things young drivers should take notice of when seeking car insurance. Following these tips will help you get the lowest premium and the right cover for you.
First, ALWAYS tell insurance companies the truth about the state of your vehicle. If you have made any modifications to the engine or body that are likely to impact the roadworthiness or performance of the car then tell them from the outset. You may end up paying more in the short term via your insurance premiums, but it could save you thousands in the long term if you have an accident and your policy becomes void because you didn't inform them of the changes to your vehicle.
Second, many young people try to put someone else’s name (usually an older drivers) details down as the primary driver of their vehicle in order to gain insurance or to lower their insurance premium. However, as with the modifications issue mentioned above, this isn't a great idea as, if discovered, it can make your insurance void. So always put yourself down as the primary driver, but consider adding a second responsible driver to your policy as this may help your case.
Third, never forget that vehicle type impacts on insurance cost, so when you’re out and about shopping for your first car, put your ego aside and look for cars that insurance companies will favour. Cars with large engines driven by younger drivers pose a greater insurance risk than vehicles with smaller engines, as do high performance cars and older vehicles. Smaller cars can equal smaller risk.
Fourth and final point is to take the time to shop around when looking for car insurance. By comparing insurance provider’s policies side by side you can find the right level of cover that suits your budget and driving needs whilst also minimising your risk. A few quick tips when considering a car insurance provider are to not assume that third party insurance is cheaper than comprehensive insurance, to check carefully how much you'd really be paying when you make a claim, and to consider the difference it would make to park your car in a secure location rather than on the street.
Image Credit
Image courtesy slgckgc / flickr.com
However, the issue of car insurance can be daunting for many younger drivers as there are many factors involved in insurance companies determining the type and level of cover they will provide you. So here is a quick guide to some key things young drivers should take notice of when seeking car insurance. Following these tips will help you get the lowest premium and the right cover for you.
First, ALWAYS tell insurance companies the truth about the state of your vehicle. If you have made any modifications to the engine or body that are likely to impact the roadworthiness or performance of the car then tell them from the outset. You may end up paying more in the short term via your insurance premiums, but it could save you thousands in the long term if you have an accident and your policy becomes void because you didn't inform them of the changes to your vehicle.
Second, many young people try to put someone else’s name (usually an older drivers) details down as the primary driver of their vehicle in order to gain insurance or to lower their insurance premium. However, as with the modifications issue mentioned above, this isn't a great idea as, if discovered, it can make your insurance void. So always put yourself down as the primary driver, but consider adding a second responsible driver to your policy as this may help your case.
Third, never forget that vehicle type impacts on insurance cost, so when you’re out and about shopping for your first car, put your ego aside and look for cars that insurance companies will favour. Cars with large engines driven by younger drivers pose a greater insurance risk than vehicles with smaller engines, as do high performance cars and older vehicles. Smaller cars can equal smaller risk.
Fourth and final point is to take the time to shop around when looking for car insurance. By comparing insurance provider’s policies side by side you can find the right level of cover that suits your budget and driving needs whilst also minimising your risk. A few quick tips when considering a car insurance provider are to not assume that third party insurance is cheaper than comprehensive insurance, to check carefully how much you'd really be paying when you make a claim, and to consider the difference it would make to park your car in a secure location rather than on the street.
Image Credit
Image courtesy slgckgc / flickr.com
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