Articles
Selected category: Savings
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A Lesson for your Kids about Math and Money
It’s very hard to figure out when and how to discuss money with your children. It’s almost as difficult, surprisingly, as talking with them about sex. But there is an easy way, one that also gives them at the same time an... Read →
BestCashCow's Best Bets in Online Savings and Money Market Accounts for 2019
The Federal Reserve moved in September 2018 to a 2 – 2.25% Fed Funds rate, and savings and money market rates are now firmly above 2%. Interest rates are poised to go up again in December 2018. Unless Trump fires Jay Powell, the... Read →
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November 2018 Update – Five Nationally Available Online Savings And CD Accounts to Consider
Online savings and CD rates rose in October. We continue to favor savings rates over CD rates. It remains likely that the Federal Reserve will raise the Fed Funds rate from its current 2.00 – 2.25% Fed Funds rate to a 2.25% - 2.50%... Read →
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No Penalty CDs May Offer An Easy Way to Boost to Your Savings Rates
Here at BestCashCow, we have been a fan of the No Penalty Certificate of Deposit since Ally began offering it years ago. It ordinarily offers depositors a slight improvement over a comparable savings rate at the same online bank. Since... Read →
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Chase Unveils Sapphire Banking; It is Worth a Look for Those with $75,000
Here at BestCashCow, we’ve always been big proponents of earning the highest possible interest on your cash accounts (savings, CDs, checking). We are also big proponents of maximizing your credit card travel rewards by using the... Read →
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Finally Online Banks Are Highlighting Low Rates At Money Center Banks
One of the most amazing things over the last years has been the huge difference between interest that could be earned from savings and CDs in online banks as compared with that earned at the major brick-and-mortar banks (Chase, Bank of... Read →
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Should I Deposit Over FDIC Limits in XYZ Bank?
Having been running BestCashCow for many years now, this is the most common question that I receive. The question comes from people I know well and people I know casually and people who I don’t know at all. It comes fast and... Read →
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October 2018 Update – Five Online Savings Accounts to Consider as Rates Rise
Following the Federal Reserve’s hike in the Fed Funds rate in September, we have seen interest rates of all durations move up in the first week in October. Savings rates too have risen, causing the best rates in BestCashCow’s... Read →
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Morgan Stanley is Offering its Customers 2.10% on Savings or 2.40% on a 6-Month CD
Morgan Stanley is trying to get its large customer base to move some of their assets back to the bank from other institutions that may have offered better rates in the past. They are doing this by offering an promotional savings rate of... Read →
Federal Reserve Raises Fed Funds Target Rate to 2 - 2.25%
The Federal Reserve voted unanimously today to move the Federal Funds rate up by 25 basis points to 2 to 2.25%. BestCashCow had predicted this move for some time. By late last week, economists polled by various polling services had all... Read →
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Does the Stock Market Need to be Massively Overbought Before It Crashes?
I cannot turn on CNBC or Bloomberg without hearing some money management type explain that there is no risk of a stock market crash because it is not wildly overbought like it was in 1929, 1987, 2000 or 2008. It seems that everyone is... Read →
September 2018 Outlook: With the Fed Poised to Raise Twice Before the End of the Year, Here are the 5 Best Savings and CD Products Now
As we move into the fall with all sorts of political turbulence with potential economic ramifications, the Federal Reserve remains poised to raise the Fed funds rate by 50 basis points to 2.25% to 2.50% before December. As we pointed... Read →
Avoid Preferred Stock
A major money center bank recently updated its website in such a way that before customers (and non customers) even log in they are encouraged to “Consider Preferred”. Site users are immediately directed to a linked article... Read →
A Good Problem – Insuring Over $250,000 in a Single Bank Account
It’s nice to have over $250,000 in savings, but it is a pain in the neck to have to split the money up in more than one bank in order to ensure that it is all covered by FDIC insurance. Given the instability in America right now,... Read →