CitizenVectron Posted February 13, 2019 Share Posted February 13, 2019 1 hour ago, b_m_b_m_b_m said: Lol where are you getting 2-3% interest? The First National Bank of Narnia? EQ Bank (in Canada) is 2.3% interest year-round. They are an online-only bank. Canada has a bunch of online-only banks (Tangerine, Simplii, etc) that offer high interest savings accounts. But banks in Canada are federally-regulated (not state like in the US) so we have much larger pools of customers for each bank, even though Canada is only the population of California. Also, Canada has a nation-wide debit system called interac which has online money transfers called e-transfers. You can e-transfer anyone with just their phone number or email address and they get the money instantly and usually for free. So you just e-transfer money into the online account (or transfer from a bank account normally) and then let it sit. When you need it you e-transfer out, instantly. e-transfers have basically replaced cheques, and because every machine takes interac debit (non-profit system with no transaction charges for user), we're basically cashless as well. So anyway, 2.3% is the best standard HISA rate, but you can get up to 3% for promotional rates. So you just switch banks every 6 months and get the promotional rates, since the online banks have no fees at all. I think the online banks are federally insured for up to $100,000 or $200,000 in deposits. Quote Link to comment Share on other sites More sharing options...
CastlevaniaNut18 Posted February 13, 2019 Share Posted February 13, 2019 8 hours ago, b_m_b_m_b_m said: Lol where are you getting 2-3% interest? The First National Bank of Narnia? Okay, am I missing something here? I'm not really savvy with financial stuff, but I have a Goldman Sachs savings account that yields 2.25% interest and the rates have been increasing lately. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted February 14, 2019 Share Posted February 14, 2019 1 hour ago, CastlevaniaNut18 said: Okay, am I missing something here? I'm not really savvy with financial stuff, but I have a Goldman Sachs savings account that yields 2.25% interest and the rates have been increasing lately. Interest rates have been sub 1% for years now at most banks Quote Link to comment Share on other sites More sharing options...
CastlevaniaNut18 Posted February 14, 2019 Share Posted February 14, 2019 Just now, b_m_b_m_b_m said: Interest rates have been sub 1% for years now at most banks Okay, but Goldman Sachs is pretty huge. Seems like it's not crazy to think of interest rate of 2-3%. Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted February 14, 2019 Share Posted February 14, 2019 Just now, b_m_b_m_b_m said: Interest rates have been sub 1% for years now at most banks But those would be for normal banks savings accounts, which are usually not great. High interest savings accounts (often through online banks) are usually a point or two higher. Quote Link to comment Share on other sites More sharing options...
Pikachu Posted February 14, 2019 Share Posted February 14, 2019 Ally Bank offers 2.2% on savings Quote Link to comment Share on other sites More sharing options...
Scott Posted February 14, 2019 Share Posted February 14, 2019 On 2/12/2019 at 2:50 PM, Amazatron said: Yeah, but you paid 30-40% more for the new car. Strictly from a financial position, buying used is always better. Maybe. I knew a guy who bought his daughter a brand new sedan as she was heading off to college. She drove the piss out of it for 4 years. 100,000 miles or more. She came home after all this, and her dad asked her how soon she needed her next oil change. She asked him what he meant? What was an oil change? She hadn't changed the oil once in 100,000 miles. He got the oil changed immediately, took it to a car lot and sold it for a decent chunk of change. Some poor bastard will buy that car. I bought my last vehicle new. I'm happy to pay slightly more to have been there for each driven mile of that car's life. Quote Link to comment Share on other sites More sharing options...
Joe Posted February 14, 2019 Share Posted February 14, 2019 3 hours ago, CastlevaniaNut18 said: Okay, am I missing something here? I'm not really savvy with financial stuff, but I have a Goldman Sachs savings account that yields 2.25% interest and the rates have been increasing lately. Marcus ftw. Ally and HSBC among many others offer great rates, too. Quote Link to comment Share on other sites More sharing options...
CastlevaniaNut18 Posted February 14, 2019 Share Posted February 14, 2019 Just now, Jose said: Marcus ftw. Ally and HSBC among many others offer great rates, too. I mean, Marcus is hardly Narnia levels of fantasy Quote Link to comment Share on other sites More sharing options...
Remarkableriots Posted February 14, 2019 Share Posted February 14, 2019 9 hours ago, Scott said: Maybe. I knew a guy who bought his daughter a brand new sedan as she was heading off to college. She drove the piss out of it for 4 years. 100,000 miles or more. She came home after all this, and her dad asked her how soon she needed her next oil change. She asked him what he meant? What was an oil change? She hadn't changed the oil once in 100,000 miles. He got the oil changed immediately, took it to a car lot and sold it for a decent chunk of change. Some poor bastard will buy that car. I bought my last vehicle new. I'm happy to pay slightly more to have been there for each driven mile of that car's life. My last roommate for years never changed the oil. Quote Link to comment Share on other sites More sharing options...
PaladinSolo Posted February 14, 2019 Share Posted February 14, 2019 Retail sales on the decline as well. The best part is how these idiots think its unthinkable that because someone has a job they can't be doing bad. https://www.cnbc.com/2019/02/14/retail-sales-were-so-bad-its-either-suspect-or-a-recession-warning.html The sudden and unexpected plunge in December's retail sales data raised new concerns about a recession, but economists also say the biggest drop in nine years clashes with other data and may be suspect. But nonetheless, Wall Street still took the data seriously and economists slashed fourth quarter GDP forecasts. JP Morgan cut its growth estimate to 2 percent from 2.6 percent. "This literally came from out of left field… I thought January would have been bad," said Chris Rupkey, chief financial economist at MUFG Union Bank. "All our reports earlier were that holiday sales were sparkling." The Commerce Department said retail sales for December fell 1.2 percent, the largest decline since September, 2009 when the economy was exiting recession and shaking off the financial crisis. The report was delayed due to the government shutdown, and there is no release date for January sales data. "This is against the backdrop of the only data we had, which was the blockbuster employment numbers," said Diane Swonk, chief economist at Grant Thornton. "If the world was that bad, that was the place we should have seen it and we didn't. It leaves us all scratching our heads. It's suspect, highly suspect." Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted February 14, 2019 Share Posted February 14, 2019 People should be taking out short-term loans to stimulate the economy, and asking Best Buy to give them new TVs on an IOU-basis. There's no reason to not spend money. - Trump Cabinet 1 Quote Link to comment Share on other sites More sharing options...
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