With the dollar tanking, and interest rates from online bank account slowly but surely dipping, I'm wondering where people are keeping their savings, or 0% money from BT's.

Maybe sticking with the high interest rate banks is still the best choice, but I wanted to make sure I wasn't missing an opportunity elsewhere. I currently have my money sitting in Countrywide, and while the 5% rate isn't bad by any means, I'm not sure what to expect in the future.

I'm no economist, so could someone let me know if the outlook is bleak for our interest rates in the near future?

Thanks!

Edit: I guess now with the 75 bps drop today, this thread is even more relevant. It's time to start getting creative

With BT money, if the dollar is "tanking", the thing to remember is that it is not your dollar that is tanking.

Regardless of the market, most people will make the decision that the only way to guarantee they can repay BT money is to put it in guaranteed principal accounts with insurance like checking, savings and CDs.

I took my money out of Etrade last month that was get 5.05%. I was nervous about their stability. Now it's sitting in Fidelity's My Smart Cash account only getting 2.96%. I'm trying to decide which is the better choice: going back to Etrade, or putting it into Fidelity's money market fund FSLXX, which gets about 4.75%. It's not FDIC insured, but I guess a MM from Fidelity is about as close to guaranteed as you can get without the full faith and credit of the US government.

where rates are expected to go

ShowMeTheDeal said:I took my money out of Etrade last month that was get 5.05%. I was nervous about their stability. Now it's sitting in Fidelity's My Smart Cash account only getting 2.96%. I'm trying to decide which is the better choice: going back to Etrade, or putting it into Fidelity's money market fund FSLXX, which gets about 4.75%. It's not FDIC insured, but I guess a MM from Fidelity is about as close to guaranteed as you can get without the full faith and credit of the US government.

If it is FDIC insured why do people care about the perceived "stability"

My savings headed here

thatfranchise said:Would now be a good time to get locked in on some cd's? If so, what are the best options right now?
Corus still has 6 month at 5.15% listed. They lock that rate for 2 weeks after you do online application. They are good about it, Coulpe weeks ago I did the 6 month 5.31% and the next day they lowered, But when CD came it was 5.31%

thatfranchise said:With the dollar tanking, and interest rates from online bank account slowly but surely dipping, I'm wondering where people are keeping their savings, or 0% money from BT's.

Maybe sticking with the high interest rate banks is still the best choice, but I wanted to make sure I wasn't missing an opportunity elsewhere. I currently have my money sitting in Countrywide, and while the 5% rate isn't bad by any means, I'm not sure what to expect in the future.

I'm no economist, so could someone let me know if the outlook is bleak for our interest rates in the near future?

Thanks!

Edit: I guess now with the 75 bps drop today, this thread is even more relevant. It's time to start getting creative

I'm looking for some fairy tale country where they believe in savings and balancing the budget. Anyone heard of such a place?

I'm moving 100% to Tulip Bulbs

I plan on opening an Rewards Checking account that pays %6 interest.