Saving for a College Education
While I really do not have much to work with so far, I figured I would discuss what plans I have for investing my money and what goals I hope to accomplish in the short-term and long-term.
At my age I sure have a lot to plan for: there’s college, my first car, my first home, wedding, vacations, retirement, etc. I guess the one thing that people my age really need to plan for is college. It’s really the first major financial hurdle I will have to overcome and without it the other things on my list become a lot harder to attain. (more…)
ING Raises Rate to 3.75%
Good news for me. ING Direct which is where I have a majority of my money right now has just raised their savings rate from 3.5% to 3.75%. While this won’t necessarily increase my net worth a whole lot, every little bit helps. Besides it beats the measily 0.5% or less that almost every other bank offers for their savings.
For those of you who don’t know a whole lot about ING Direct, they are an FDIC insured bank just like any of the banks you probably have in your town (Chase, Wells Fargo, etc) the only difference is that while those other banks spend millions or billions of dollars building big fancy buildings with plush leather chairs, that cost all kinds of money (employees, taxes, electricity) to run and maintain, ING operates their branch soley on the internet. In return for the cost savings by not having to maintain all of these local branches they are able to offer savings rates that blow away rates offered by brick and mortar banks. (more…)