A Penny Saved

As I rethink the function of this blog, I will focus it to an audience looking for interesting tidbits to help them along. The range of ideas is broad and will not always (ok, not usually) be my original thoughts. I will borrow the ideas from other sources. I don't have all the answers and don't intend to act as if I do. Actually, I will post ideas here to help me remember as well, what I have learned through my meanderings of life and the internet.

Saving's Basics: Assuming you have a little saved money sitting around collecting dust, why don't you collect dollars? In my searches to find a decent rate of return on a savings account in these times of rate fluctuation, I have found several places that offer decent returns on a standard savings account. An online bank, Emigrant Direct (www.emigrantdirect.com) for example, offers a 5.05%APY. Now as far as I know, my the national average is much lower (somewhere below 1%, but don't quote me). There are many other banks like this and if you do a little google search, you will find them (or go to www.bankrate.com to compare banks). They are basically all the same. Depending on how much you have to save, you should go for one that has no minimums, no fees, and is insured by a reputable institution (member FDIC). These work just like savings accounts, except that there is usually no bank to go to, and you'll need to connect it to another account to fund from or withdraw to. The process is simple and in no time you'll be making a measley 5% on your savings account!

I also accept advice, so if you have anything you'd like to share, please feel free.