No Debt Plan » Saving

Saving Versus Paying Down Debt: It’s All About Risk, Interest, Access, and Cash Flow

Kevin — Thu, 07 Apr 2011 11:30:56 +0000

It’s an age-old financial question: to pay down debt or to save extra funds for a rainy day? As with any personal finance question it really depends on your personal situation. That having been said here are some guidelines you can use to determine what is best for you. Risk, Emergencies, and Stability Having money [...]

Saving Versus Paying Down Debt: It’s All About Risk, Interest, Access, and Cash Flow is a post from No Debt Plan

How to Fly Around Financial Ash Clouds

Kevin — Tue, 20 Apr 2010 11:00:48 +0000

The ash cloud generated by a volcano in Iceland has stranded thousands of travelers in Europe. Some, it seems, are even going broke. Here’s a stunning quote (emphasis mine): “We’re at the end of the holiday so we’ve spent all our money,” a weary-eyed Andrew said, as he sat with his family next to the [...]

How to Fly Around Financial Ash Clouds is a post from No Debt Plan

5 Steps to Closing Old Bank Accounts

Kevin — Mon, 26 Oct 2009 14:26:10 +0000

Your financial future is reliant on you making smart choices today that lead to big wins. You’ve realized your bank could care less about you. You’re earning no interest on your checking account and your savings account interest is well below the national average. It’s time to go. Making one change — your bank — [...]

5 Steps to Closing Old Bank Accounts is a post from No Debt Plan

Shock Your Banker by Finding a Better Deal

Kevin — Fri, 16 Oct 2009 11:00:39 +0000

Two months ago I closed our old brick-and-mortar checking account. We recently discovered and opened a high-yield reward checking account. We’re getting 4.41% on our checking. Yea — good deal. It was time to kiss our old account goodbye. How to Close a Checking Account I was surprised at how easy closing our checking account [...]

Shock Your Banker by Finding a Better Deal is a post from No Debt Plan

How to Save for Small Goals

Kevin — Mon, 21 Sep 2009 14:31:17 +0000

A reader wrote in with this question. After reading your article on flexible budgeting, I wanted to ask a question to build on your notes about flexible budgets. One question I have is in regards to financial goals. While I save in categories of ‘retirement’ and ‘house down-payment’, I don’t know how to save for [...]

How to Save for Small Goals is a post from No Debt Plan

Switching Banks: The Waiting Game

Kevin — Fri, 07 Aug 2009 14:07:27 +0000

Earlier this week I detailed out how to transition to a new bank account. We are in the midst of moving a sizeable amount of our money from our ING Savings account to a new regional bank in our area. In doing so we are tripling the amount interest rate we will earn from 1.4% [...]

Switching Banks: The Waiting Game is a post from No Debt Plan

Consider High-Yield Rewards Checking Accounts

Kevin — Wed, 22 Jul 2009 11:00:25 +0000

In my last post I mentioned we were considering adding a high-yield savings account to our banking mix. Today we went to two different banks to investigate their performance checking accounts. What are High-Yield Rewards Checking Accounts? A high-yield reward checking account (also known as a performance checking account) offers a very high interest rate [...]

Consider High-Yield Rewards Checking Accounts is a post from No Debt Plan

Reader Question: Why Let Your CD Ladder Fall Apart?

Kevin — Wed, 01 Jul 2009 11:00:34 +0000

Last month I told you that our CD ladder fell apart. One reader, Dave from Do You Dave Ramsey, e-mailed in a question that I figured would make a great post. Here’s his question: I’m curious as to your motivation to stop [the CD ladder]. Â I get that rates were falling, but wouldn’t you also [...]

Reader Question: Why Let Your CD Ladder Fall Apart? is a post from No Debt Plan

Find the Best Bank CD Rates

Kevin — Thu, 25 Jun 2009 11:00:00 +0000

Yesterday I walked you through using Money Aisle to find bank CDs. The banks compete for your deposit and you end up with a higher percentage than you would otherwise. Or do you? Would you be better served doing a few quick internet searches to discover the best interest rate? I thought I’d do another [...]

Find the Best Bank CD Rates is a post from No Debt Plan

Find Best Bank CD Rates with Money Aisle

Kevin — Wed, 24 Jun 2009 11:00:12 +0000

Yesterday I confided that our CD ladder had fallen completely apart leaving our emergency fund stranded in an ING savings account earning “just” 1.50%. While 1.50% is a stark contrast to the years of 4-5% savings rates at ING it isn’t all that bad in today’s economic environment. That having been said 1.50% will lose [...]

Find Best Bank CD Rates with Money Aisle is a post from No Debt Plan