Banks used to be good not just as holding pens for your money, but as places your money could grow slowly but surely. But considering the evil combo of rising fees and pathetic interest rates, the net result is a slow but sure loss of value even when there’s not much inflation. The main reasons for putting money in standard checking and …
interest rate
Tricky Ways to Get a Better Return from the Money You Put in the Bank
What with interest rates on CDs paying a measly 1% or 2% and bank savings accounts paying even less, sometimes you have to wonder what’s the point of trying to save money. But by paying close attention to the fine print of certain bank agreements, and even by using your ability as a smooth negotiator, you could be able to double your …
America, Home of the Financial Ignoramus
This just in: A startlingly large number of Americans—perhaps you’re one of them—are basically financially illiterate, without a clue when it comes to concepts like inflation and interest rates. At the same time, financial options have grown, and grown more complicated, with gotcha mortgages and credit card agreements overloaded with …
Foreclosure Lite, Or Losing the Home You Bought With Nothing Down
If you’ve read anything about business in the last couple of months, and I’ll work under the assumption that almost all the readers of this blog have to avoid repeating all the sordid details, you know about the subprime mess. The basic story line goes like this:
Irresponsible and unscrupulous bankers offered borrowers loans at high …
