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Old 09-27-2022, 02:26 PM   #1 (permalink)
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Savings accounts are way up.

As far as I know Bank of America is still paying me 0.01%, so I only keep the minimum in there.

My paychecks from my second job go directly to Navy Federal, but as far as I know they are still paying me 0.25%.

People always tell me "Better than nothing!" about negligible things, but I had $6,500 in there, and I would have earned $16.25 in interest in a year.

Yes, that is better than nothing, but I have been able to do better for a long time, I just didn't care.

I have found weird banks that give you 5% or more, but only on $1,000, and required a bunch of work.

I have found banks that offered a couple times as much interest, but it seemed like the bank with the best interest rate varied from month to month, and I didn't feel like juggling another account in order to be able to buy myself another movie ticket or two each year.

Well, interest rates are crazy, so banks are offering better rates now, right?

Well, some, and of course not better than the inflation rate, but you can lose less money here while you save up enough to do something real with it?

Bankrate shows 5 banks offering 2.25% interest or more.

Only Citizens requires a minimum balance.

None of them have monthly fees.

UFB Direct offers 2.85%, but Bankrate only rates them 3.6 stars, complaining that their rates aren't competitive, and they only offer savings and money market accounts.

Clearly that isn't updated because UFB Direct has the highest rate.

Bask Bank offers 2.75% and is rated 5 stars, CIT Bank offers 2.4% and has 4.6 stars, Citizens Bank offers 2.35% and despite requiring $5,000, is rated 4.8 stars.

Finally, Synchrony offers 2.25% with 5 stars.

There are 5 more that offer 2% or more.

Marcus, by Goldman Sachs says "Earn additional 1%. Terms apply."

I didn't see that until after I opened an account elsewhere.

I am in some kind of limbo with UFB. When I clicked the button to open an account nothing seemed to happen. I tried twice more and then tried in another browser, but it said that I already had an account.

I couldn't log into that account.

My $6,500 in UFB would accrue $185.25 in a year, unless the interest rate changes.

That is entirely possible.

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Old 09-27-2022, 02:49 PM   #2 (permalink)
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"Savings accounts [interest rates] are way up."

Is this a thread about losing money more slowly? I thought it would be about how people are saving money instead of spending it on durable goods that will appreciate over time, i.e. old VW Beetles.
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Old 09-27-2022, 02:53 PM   #3 (permalink)
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With such generous interest rates, the effective inflation would only be 7%, making your savings only lose $450 sitting in an interest bearing account.

Banks aren't where people concerned with wealth put money. It's not an investment for the depositor, but for the banker.

Keep whatever the minimum necessary to pay off credit cards in full every month, and not much more.
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Old 09-27-2022, 06:30 PM   #4 (permalink)
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I cashed out some of my savings to buy a hundred ounces of pure silver coins.
I have to keep a lot of money in there for next time the POS trailer next to my rental house goes up for sale. Last time it went up for sale all my money was in play, if I had about 2 weeks notice I could have easily bought it. No I had less than 48 hours to scare up about 10 grand. So now it's an even bigger POS than before. Now I wish it was a drug den, like it was before.
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Old 09-27-2022, 07:00 PM   #5 (permalink)
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Quote:
POS trailer
Not familiar with that brand name.

Deets? Length? Park or RV model?

I've gotten two decades of value from my $900 pseudo-Airstream. At 10K, I'd want it to be a Spartan Carousel.

http://www.airstreamclassifieds.com/.../03/862935.jpg
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Old 09-27-2022, 09:22 PM   #6 (permalink)
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Pos is a custom job, one that's had a roof leak for 25 years and had meth cooked in it.
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Old 09-27-2022, 09:43 PM   #7 (permalink)
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If it's a flat roof with a seam right on the edge -- that's a P.O.S.

If the roof has any curvature and the seam is in the sidewall it's servicaable.

What are your plans for it, a Saving@Home thread?
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Old 09-27-2022, 09:58 PM   #8 (permalink)
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What they do locally is put up a flat roof on posts over the trailer. Which then proceeds to leak.

Were it I, I'd try to source some sections of roofing from these railway vehicle deilvery cars.


1.bp.blogspot.com/-avE0q958Vb0/UtL6MJo9AaI/AAAAAAAGd-8/IuVx93hLjBw/s1600/CNA+704163+AUTORACK+Rail+Car+Canadian+National+Rai lway+Canada,+Auto+Rack+Automobile+Transport,+Canad ien+National+Railroad+Georgia+Freight+Train.JPG

New or used. They should be 8ft 6in, IIRC. That should straddle an 8ft trailer, or you could cut them down to make a vaulted ceiling.

Else a trolley top.
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Old 09-27-2022, 10:40 PM   #9 (permalink)
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I have seen that around here.

The secondary roof leaks?

I think that it would make a great deal of sense to put some 2" foam board between the posts and put a sheet of siding over everything.

If the roof leaks I doubt the insulation is any good!
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Old 09-27-2022, 11:08 PM   #10 (permalink)
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If you want to dabble in stocks, YLD pays 6.9%. I have no personal experience with it.

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