Comments for How To Increase Your Savings

Comment on If I Cash In Savings Bonds Can I Pay My Wife's Student Loans Off And Get A Tax Credit? by Judy

Judy — Sun, 20 Dec 2009 11:47:33 +0000

There are a number of rules for exempting interest on savings bonds cashed to pay tuition – so many that it’s very unlikely that you would be able to – among other things, it’s for current expenses, not for paying off student loans. Check the rules carefully before you even consider this, since it’s pretty unlikely to work for you. It’s not as simple as “I used the money to pay tuition so I don’t have to pay tax on the interest”.

Comment on If I Cash In Savings Bonds Can I Pay My Wife's Student Loans Off And Get A Tax Credit? by the tax lady

the tax lady — Sun, 20 Dec 2009 07:34:44 +0000

You will have $2000 of taxable interest income.
Only the interest on those student loans is deductible.
Too bad you didn’t cash them in during 2004–assuming the bonds met the very strict education exclusion requirements.

Comment on How Long Does It Take When The Feds Cut Interest Rates For Your Bank To Pass The Savings On To You.? by Petra H

Petra H — Sun, 20 Dec 2009 07:19:30 +0000

Banks are in the moment in a clinch. They had in the past 6 month to many wright offs. If you can wait, I presume the local banks will start to lower their interest in the next 3-6 month. The stock market is in the moment still to volatile, banks have to rearrange their investments before they have more money to spent. I also suggest, to read very carefully the small print. Be sure to have a fixed interest rate No ARMS!!!

Comment on How Long Does It Take When The Feds Cut Interest Rates For Your Bank To Pass The Savings On To You.? by themaine

themaine — Sun, 20 Dec 2009 07:00:43 +0000

Rates have dropped, but not in all markets. Most banks have dropped their rates, but the federal bank where they borrow THEIR money from, changes its rates just about daily, or at worst, weekly. You just need to keep shopping around.
I would avoid the larger banks, because they don’t get a lot of rate cuts themselves, so they are less likely to cut a rate than a smaller bank.

Comment on What Is The Best Bank For Me To Open A Savings Account & Get A Debit Card? by theropin

theropin — Sun, 20 Dec 2009 03:45:26 +0000

Credit Suisse
Start investing in gold and silver.

Comment on What Is The Best Bank For Me To Open A Savings Account & Get A Debit Card? by Anonymous

Anonymous — Sat, 19 Dec 2009 22:24:00 +0000

look for credit unions! they’re the best. good % rate.
they also have good % for loans. — my opinion and from experience. hope this helps

Comment on What Is The Best Bank For Me To Open A Savings Account & Get A Debit Card? by saput

saput — Sat, 19 Dec 2009 19:37:48 +0000

HSBC is best bank among rest of all other competitive banks.

Comment on How Old Do You Have To Be To Open A Tax-free Savings Account? by Judy

Judy — Sat, 19 Dec 2009 19:14:56 +0000

over 16. below 16 require parents assistance

Comment on What Is The Best Bank For Me To Open A Savings Account & Get A Debit Card? by blitzydi

blitzydi — Sat, 19 Dec 2009 15:02:33 +0000

Bank of America…..

Comment on Where Can I Set Up A Savings Account Where I Can Limit My Withdrawals? by Dillon Y

Dillon Y — Sat, 19 Dec 2009 13:01:21 +0000

US bank