Oct 9 2008
What Does The Fed Rate Cut Mean For Savings?
Uh, it means lower APY of course! Today, the U.S. Federal Reserve slashed 50 basis points to a rate of 1.50%. The stream of bank failures This rate cut in a state of increasing financial turmoil may be a life preserver for the economy but the effects it has on savings accounts and their user [...]
Aug 26 2008
The Psychological Effects Of An Automatic Savings Plan
Last month, I started an automatic savings plan with HSBC Direct and so far, I realize that it has had some effects on my mentality towards the plan. Feels Like A Monthly Expense My plan was set to transfer money on the last day of every month (probably so is everyone else’s). The plan is [...]
