Stupid Human Tricks

I get really annoyed when I see all these self-professed “life hacker” or “financial advice” web sites spouting their nonsense on how you can save $600 a year (or whatever) just by brown-bagging your lunch! I already do that bitches, give me some useful damned advice!
And so I present to you The D’s financial advice for the day. Are you tired of your bank’s crummy interest rate on your “savings” account? Then don’t use them! We just opened an account on HSBC Direct. It’s an online savings account. What this means is that there’s no physical branch to go to, which is not a problem, since they give you an ATM card, and you can deposit or withdraw money by linking your online account to your regular bank account. It also means that they save on the overhead of having to pay tellers and they save by not having branches all over the place, so they can offer some nice savings rates. The regular rate is 5.05% APY, which means that a deposit of, say, $2000 will be worth $2101 at the end of one year, far better than the measly 1.6% APY our current savings account earns. But until April 30, the rate on new deposits is 6.00% APY. You can’t beat that with a stick.
Consumerism Commentary has a good roundup of rates to be had. You can even get 4% on your checking account if you switch it to ING Direct!
Now wasn’t that more useful than me telling you to bring a sandwich for lunch every day?

2 thoughts on “Stupid Human Tricks”

  1. Been using Emigrant direct myself. That is a great rate. Kills the money market and CD rates at my bank, and no min deposit.


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