Needless to say, I’ve been disappointed with the direction the interest rate is going on my Emigrant Direct account.  Not that I don’t understand why is going down, I’m just disappointed every time I see it drop another quarter point.  With last weeks drop from 2.75% to 2.5%, I figured I better start looking for alternatives.

I didn’t have to look far.  DollarSavingsDirect.com is another offshoot of Emigrant Bank, much like EmigrantDirect.com.  However, the rate at Dollar Savings Direct is a bit healthier at 4% (although I expect it too to start dropping).

I have a feeling this spinoff is an effort by Emigrant Bank to attract new customers without having to pay existing customers a higher interest rate, although there is nothing keeping you from transferring all your funds from Emigrant Direct to Dollar Savings Direct.

The website template looks the same, the interface is the same, the application process is the same… the only difference is that at Dollar Savings Direct there is a minimum balance requirement of $1,000 compared to no minimum at Emigrant Direct.

I’m not one to jump in the deep end without testing the water temperature first, so I’ve opened an account and deposited the minimum amount required to see how the process pans out.

If all looks good, I’ll start making Dollar Savings Direct the place to stash cash.

Banking, Finance, Saving Dollar Savings Direct, Emigrant Bank, Emigrant Direct, high interest savings, online savings account

I finally went out and started my Christmas shopping yesterday, and before I even made my way to the checkout line in Kohls I had found I came down with the funk.  You know, that feeling that on some level even larger than one man can comprehend, there’s something wrong with Christmas?

I have a feeling that the state of our country’s economic affairs has somehow infiltrated my emotional side, as hard as I try not to let it.

At some point in time while in that store I took a step outside the box.  I just sat there and watched what people picked up for others for Christmas, what they talked about, the expressions on their face.

I’ve found that I’ve become very pragmatic about what I give others for Christmas.  If you don’t have a list of what you want for Christmas, you probably won’t get much from me.  I’m not about trying to pick out something for someone else, hoping they will use it.  Chances are, they’ll pack it away in the basement only to collect dust.

I’ve thought about giving consumables (not edibles) this year like toothpaste, toothbrushes, toilet paper, etc. You know, stuff people can actually use and then throw away, spit out, or flush.  It takes up space only for a limited amount of time, and then goes away.

I’m also an anti-clutter type of guy (just ask my old college roommate, MJ).  If it doesn’t have a spot for storage, or if it never gets used, it must go. Trash, Goodwill, garage sale…  I don’t care, but it ain’t staying here.  There are very few tangible items I’m emotionally attached to, and I have no problems making donations to the local landfill.  In fact, I actually look forward to Thursdays… (trash day).

Anyway, while standing in Kohls, I noticed that the majority of stuff people were carrying around (besides clothing) was junk.  You know, the gimmicky cocoa frother who’s only purpose in life is to put a head on your cup of hot chocolate. I’ve got a wire whisk (actually two) that will do the same job and take up less space.  It also does eggs, jello, pudding, cake mix… a true multi-purpose tool that costs less that $3.

What about the smoothie maker which is really nothing but a blender with a tap in the bottom. Can you not make smoothies in a regular blender?

The thing I watched most people carry around was a giant insulated mitten with the head of an ice scrapper attached at the end.  $17.99 for that bad-boy.  I guess a pair of gloves that you can even use when your windshield isn’t icy and a $1.99 truckstop-version scraper just won’t due these days.

Just let me sulk, I’ll be alright.

It seems the spirit of giving has morphed into “giving for the sake of giving’.  And the opportunities started popping up two weeks before Halloween (soon Christmas will be a year round holiday).  Three months worth of Christmas music on the radio, and I’m burned out three days before the actual event.

In an age where we’re strapped for money, or so the media seems to indicate (I don’t know who to trust any more), it seems like Americans are still spending money on crap.

Perhaps I’ll just stick to sending out Christmas cards.

Does anyone else have a case of the Christmas funk?

P.S. If you get a Christmas card from me this year, I expect you to have thrown it away by February 1st next year.  I’ll send you another one next year, I promise.

Economics, Frugal Living, General, Saving buying crap, Christmas, giving, shopping, spending

Last week I made my final contribution to my Roth IRA for 2008. So we’ve contributed all we can to both my wife and I’s personal retirement accounts.  This is on top of our individual company sponsored retirement plans.

I’m happy to say that we’ve managed to fulfill this goal about 6 months early this year, which gives us time to start saving for next years $10,000+ contribution limits.

(Starting in 2009, the Roth IRA contribution limits will be indexed to inflation.)

So now I have to figure out where to stash the money for the next six months.  I’m leaning towards the Emigrant Direct account, since they increased the APY to 3%.

Finance, Goals, Retirement, Saving Emigrant Direct, Roth IRA