Featured
High-yield Savings
Sugar Editorial Picks
Ask Savvy: Should I Apply For a Personal Loan?
Dear Savvy,
I've been meaning to take a $5,000 personal loan. However, as you may know, my bank WaMu was bought by JP Morgan Chase. I'm not sure what kind of effects this would have on me or my bank.
Washington Mutual Raises Online Savings Account Rates
Because so many of you bank with Washington Mutual, I wanted to give you a heads up about its most recent promotion. Today the bank raised its online savings rate to four percent, which is higher than most interest rates I've seen lately. Most of you who use WaMu are sticking with the bank despite its troubles, so why not take this opportunity to start that savings account you've been putting off?
Money Tip: Pay Your Bills on Pay Day
When I was a fresh college graduate earning my first real paychecks, I quickly saw how living in a city like San Francisco isn't made for entry-level salaries. Exploring the city and all of its nighttime gems were certainly priorities, but the biggest priority was to keep myself out of debt while not depriving myself of enjoying my new surroundings.
I struck a balance by forming the valuable habit of paying all of my bills on pay day.
Savvy ATM: What Is an ING Savings Account?
Building up savings is one of the best ways to set ourselves up for financial success, and the amount of questions coming in lately about ING accounts tells me that you're all on your way! There are a number of online banks out there, meaning they don't have actual branches you can physically walk in to and speak to customer service in person, but ING is a particularly appealing choice to many savers for a few key reasons. Find out what they are when you read more
Play Hard to Get With Your Money
This credit crisis we're in must have been on the minds of neuroscientists who recently completed a study on why it's so tough to not be lured by the spell of instant gratification. Researchers found that we don't seem to be cut out for the waiting game when it comes to cash — the possibility of receiving a slightly bigger reward tomorrow doesn't arouse the brain as much as a smaller gain today.
When offered a payout today of $20, the studies discovered that the average person's brain will justify waiting three weeks for a higher reward only if that amount grew at an annualized rate of about 4,800 percent.
Other Search Results
Three Bank Accounts Might Be Better Than One
Is three the magic number? Money magazine is encouraging its readers to find a budget style that sticks, and one of the options is a bank account trifecta. The accounts include two checking and one high-yield savings.
What's the Rate on Your Savings Account?
I have friends that have admitted to signing up for a savings account without even considering shopping around for a better rate.
If it were a one-time thing (say purchasing those beautiful Marc Jacobs pumps on impulse without checking online for a better deal) I might not be so devastated, but not seeking out a high yield savings account means money lost every single month.
I think the problem lies in the fact that most people don’t realize what their rate or yield is.
Let Your Savings Do the Work
You work hard for your money. Did you know your money can work hard for you, too? Your savings can grow with a savings account with a great interest rate, so you can afford to pile on a few fancy accessories?!
Ask Savvy: Should I Invest in a Roth IRA or CD?
Dear Savvy,
I'm a college freshman and I took Economics about 2 years ago and I vaguely remember my teacher advising we should invest some money into a Roth IRA or CD. I don't have a job right now, but this summer I'm definitely looking to work for as long as I can. How would this affect my financial aid eligibility in school?
Ask Savvy: Should I Pay Off My Loans or Save For a Home?
Dear Savvy,
My fiancé and I are thinking about buying a house in the next year or two, and are starting to put aside savings for a down payment. I have quite a bit of money in student loans (about $35,000), and we're not sure if would be more beneficial to be putting any extra money into a fund for a larger down payment or paying off a larger portion of my loans. Which would be better when we are ready to buy our home?
More on SavvySugar
Fall Award Season
Top Brands
Sofa Workshop
Mey
Pieces