With interest rates on savings ate rock bottom low, check out U.S. Government I-bonds. NEWS: The initial interest rate on new Series I savings bonds is the second-highest ever: 7.12 percent. You can buy I bonds at that rate through April 2022. Details at: https://www.treasurydirect.gov/indiv/products/prod_ibonds_glance.htm Be sure you understand how I-bonds work. You can’t access…
Category: savings
U.S. Government I Bonds (inflation protected) are the best savings option you probably have never heard about
“In today’s yield-parched world, money-market funds are paying 0.02%, bank savings accounts 0.13%, a three-month Treasury bill 0.015% and even a 30-year Treasury bond only 2.25%.” Wall Street Journal writer Jason Zweig reminds us of one of the best kept secrets for savers; I-Bonds. These savings instruments are inflation-protected U.S. savings bonds that are currently…
Savings Rate skyrocketed during Coronavirus: How to use your dividend wisely
While many Americans are truly suffering from job losses, health related expenses, and the stress of working at home while trying to help children navigate Zoom school, our economy is becoming more divided. For those who can work from home and aren’t eating out, traveling, and shopping as they used to, while getting a $1200/adult…
How to build an emergency fund in the midst of an emergency
Now is not the time to stick your head in the sand and bemoan your situation! You are not alone.National surveys by the Federal Reserve have found that many households would struggle to handle an unexpected $400 expense. Writing for The New York Times, Ann Carrns provides this helpful advice from finance experts: Even small…
Trump’s tariffs cost US consumers $106 billion per year. Your cost: $831/year
“US tariffs recently imposed on goods from China will cost American households $106 billion annually, according to a report from the Federal Reserve Bank of New York. These tariffs likely will reduce overall tariff revenue collected by the US and will “create large economic distortions,” the report said.” Tariffs are a hidden tax on consumer purchasing…
Looking for savings options that pay more than 1/10th of 1%?
Check out Jean Chatzky’s advice on where to find the best savings options today, “How to grow your savings and reach your short term goals faster,” at: https://www.nbcnews.com/better/business/how-grow-your-savings-reach-your-short-term-goals-ncna857871 “Although the average savings accounts are (as we noted) paying peanuts, the best are paying almost 20 times that much. You just have to search for them…