Here’s a way to get around the worst part of CDs (certificates of deposit) which give you a higher guaranteed interest rate but lock your money in for a certain period of time: Make a ladder!
WooHoo! I got a job! Right out of college and everything. With an awesome sign-on bonus! Now what am I supposed to do with all this money? I know I have options. Stock Market (HA!), bank, and under my pillow. I would put it in the bank but I have a wedding coming up in less then a year to pay for and I want to know my options for making good quick investments. Please help!
Saw this site, moneyaisle.com, where banks compete with the best rate to get your business in a high-yield savings account or a CD. Sounded interesting, so I tried it out. I said I had $5k to deposit. The best rate they had was 3.51%. In less time it took for that rate to load, I went to Bankrate.com and found a place – yes, the banks on both sites are FDIC-insured – offering 3.91%, and only requiring a $1000 deposit. FAIL.
Stewart spent $105 on what he thought was a spindle of Memorex burnable DVDs. What he actually received was one burnable DVD sitting proudly atop a stack of CDs.
Dell has promised to stop shipping individual CDs in 10x19x10 boxes after Christian over at Technologist for Hire posted a rant about Dell’s growing love for wasteful packaging.
Remember Sony’s cringe-inducing copy protection scheme a couple of years ago, where they secretly installed rootkits on millions of customers’ PCs and then pretended it was no big deal? (“Most people, I think, don’t even know what a rootkit is, so why should they care about it?” — Thomas Hesse, Sony BMG’s President of Global Digital Business.) There’s a new article (PDF) about to be published in the Berkely Technology Law Journal called “The Magnificence of the Disaster: Reconstructiong the Sony BMG Rootkit Incident.” It’s a very detailed and entertaining read that examines the conditions that led Sony BMG “toward a strategy that in retrospect appears obviously and fundamentally misguided.”
The fed rate cut means yields on money market accounts and online savings accounts are more than likely going to fall, making it a good time to look to switch money to certificates of deposit, as long as you don’t mind the illiquidity. Here are the best 3, 6 and 12-month CD rates right now with reasonable minimum deposit requirements.
E*Trade increased the rates on a variety of banking products this week in an effort to woo back depositors spooked by their recent troubles. Here’s how they’re looking:
The Fed’s recent quarter-point rate cut could either mean more or less cash in your pocket, depending on what you accounts you own. Here is the breakdown:
Everybody needs emergency cash reserves for the unpleasant day when your expenses unexpectedly exceed your income. By stashing your reserves in the right place, you should ideally be able to fund your life – rent, food, transportation, utilities, and any other fixed expenses – for at least three months. The Washington Post has a few tips to keep inflation from eroding the value of your pot of emergency cash.
The Federal Reserve Board is expected to cut interest rates soon, and you can bet that banks will quickly follow their lead and slash rates on savings accounts and certificates of deposit. By purchasing a CD now, you can lock in favorable rates ahead of the Fed’s September 18 meeting. From the Chicago Tribune:
“Banks usually are really fast to cut rates and slow to raise,” he said.
Warner Music Group is losing a lot of money, according to Reuters. The company said in a statement:
“This (revenue) decline was driven by a challenging recorded music industry environment as the shift in consumption patterns from physical sales to new forms of digital music continues,” the company said in a statement. “Declines in our physical … revenue were only partially offset by increases in music publishing and digital recorded music revenue.”
So, shoppers, why is that? Crappy music? DRM? Is music too expensive? Do you not enjoy music anymore? Are you broke? Are you buying games for the Wii instead of a CD? Are you a bunch of pirates? Avast.
Bank Deals blog released their latest roundup of accounts and interest rates. Here’s the highest yielding for each category. Be sure to check out the bank’s policies before opening an account, especially as some of these institutions are not exactly name-brand. — BEN POPKEN
How does eBay tell if you’re a pirate? Your peg-legged swagger? Your use of arghs as punctuation? The foul-mouthed parrot crapping on your shoulder?
Ridiculing Paris Hilton for a lack of talent really is like beating an encephalic poodle with a sack of oranges until you exhaust yourself, only to find it still obliviously drooling out its tongue and staring at you with wide, flickerless eyes. You’re not getting through. And, personally, we tend to suppress an eye roll when guerilla consumerists sneak into shops and ruin the shopping experience of others to get across their obvious, fatuous message.
If Chinese sweatshops or locking yourself into an anti-competitive DRM format aren’t enough reasons to stop you from buying songs from iTunes, at least take pity on polka’s favorite rockin’ freak: Weird Al Yankovic says he makes a lot less money if you buy a song from iTunes than if you buy one of his CDs.
Gus went shopping today at Best Buy and decided to write us. It’s not a rant, not necessarily a complaint and probably won’t make you a better person.