Wednesday, March 19, 2008

More Interest Rate Cuts :(

I thought dropping from 3.6% to 3.3% was a bad drop when I complained in my Bait and Switch post. I should have known it would get worse...I was updating my budget and logging into all of my bank accounts to upload information when low and behold I log onto Emigrant Direct and discover my interest rate has dropped down to 3.0% now! I guess Emigrant wasted no time after the Fed's cut interest rates by 3/4 a point yesterday.

I guess I'll just be losing more interest.

3 comments:

No Debt Plan said...

(pssst... it's losing)

Rates are going down to encourage spending. Stay the course, and keep socking away money.

"Future Millionaire" said...

@ no debt plan - thanks for catching my poor editing.

I'm holding tight and socking away - but no the less its still discouraging. I remember the good ole days of 5.5% interest rates. :(

natron said...

i recommend a book called missed fortune by douglas andrews. unless that checking/savings account is for liquid emergency purposes, there are better investments.
also, the 4hourworkweek by timothy ferriss is something that sounds like you would enjoy as well. i've noticed tim's book available as a download at a the library (i'm in CA)

oh, rate will continue to go down anothet basis point or two this year...be prepared!

Subscribe To Recieve Email Updates of Saving Savy