Short term rates. They update daily, but are meaningful about every 7 trading days. In MMs 6 months is an eternity.
What a good site to track the short term rates?
Short term rates. They update daily, but are meaningful about every 7 trading days. In MMs 6 months is an eternity.
What a good site to track the short term rates?
I just look at the yield table at Fidelity.
Pay attention - twice a year ?
What drives the MM rates? How much the Feds raise the interest rate or some other indicator?
https://fred.stlouisfed.org/series/MMTY
I think I found the answer...
https://www.investopedia.com/ask/an...se instruments are,fund pays to its investors.
What a good site to track the short term rates?
I look at my statements monthly so I know what various accounts are yielding.I just look at the yield table at Fidelity.
Note I said a minimum. Until 8 months ago things were very sleepy and can be for long periods. This has been the fastest rate rise in a very very long time. It’s not always like this.Short term rates. They update daily, but are meaningful about every 7 trading days. In MMs 6 months is an eternity.
Why?
Are you planning a getaway?
I was in SPRXX, but since I recently generated the new year's spending cash I had enough to switch to FZDXX for the extra yield. Thanks for the info.
Got it. So how does the $100k minimum comes into play?
I'm glad I asked the question and thanks everyone for the feedback.
As far as creating a Fidelity Cash Management account. Are there any cons for having a Fido Cash Management account? My goal is to consolidate as much as possible to Fidelity, however; I do plan to continue to have a very small cash amount in my local bank and credit union.
You can have a brokerage account with cash management features, debit card, checks, billpay, etc. You can also have a cash management account which gives you everything a bank account would including FDIC insured cash, but it’s biggest benefit is it separates spending cash from investment cash so for example if you use a debit card or have cash draws from your account your entire brokerage account is not exposed, only your cash management account. It keeps things compartmentalized.
I have enough money in my checking to pay my monthly credit card bill from everything I paid the previous month and get all those free points from my cc company and every other dollar goes into my online Bank ACA Bask Bank at 4.07% APR, so I am making money anywhere possible to keep me living below my means lol.
I need to look into using a credit card to pay my monthly bills to get those free points. I'm sure there are some websites that goes into more detail about this strategy and which credit cards are the best for this approach.
Fidelity offers a 2% on anything Visa. I use it to pay everything that doesn’t charge a fee from our HOA, to our water bill, etc. We made almost $1300 last year just by paying our bills.
I need to look into using a credit card to pay my monthly bills to get those free points. I'm sure there are some websites that goes into more detail about this strategy and which credit cards are the best for this approach.
I need to look into using a credit card to pay my monthly bills to get those free points. I'm sure there are some websites that goes into more detail about this strategy and which credit cards are the best for this approach.
Until recently it was not worth the trouble to worry about cash in the checking account. Now I would keep 3 months in a MM or online bank to earn 3% or more and the rest in 13 or 26 week to bills to earn 4.5% or better.
Word of thanks to my mentors in the T-Bill thread.
T-Bill thread? Is there is a link?
I'm glad I asked the question and thanks everyone for the feedback.
As far as creating a Fidelity Cash Management account. Are there any cons for having a Fido Cash Management account? My goal is to consolidate as much as possible to Fidelity, however; I do plan to continue to have a very small cash amount in my local bank and credit union.
No problem with a cash management account. I use it more for some bill paying and the ATM card with no foreign transaction fee for ATM withdrawal.
Who do you know that I don't know?
My Fidelity CMA debit card has a 1% foreign transaction fee. That's why I always use my Schwab debit card overseas.
Yes, do that. You can take a couple different approaches.
1. Get single a 2% cash back card and put all your spending on that card. The Fidelity card or Citi's Double Cash Back card are probably the most popular. This approach is simplest and still gets good rewards.
2. Get multiple cards that offer higher % options on focused areas of spending. I used one card for Gas (4%), one card for Grocery/Drug/Restaurants (5%/3%/3%), and one card for everything else (2%). A little more complicated, but worth it if you can keep track of which cards do what.
Either way will get you quite a bit of cash back over the course of a year. I put virtually ALL spending on a credit card. Even the $1 candy bar from a convenience store. My total cash back last year was just under $2,000.
^^^^
This --
We use the Citi Custom Cash card for Groceries only....5% back, and an annual summary statement to easily track Grocery spending.
We use Capital One Savor card for all Dining Out at 3% cash back, and annual summary. This card also gives 3% for Tickets (Concerts, Ball Games, etc).
Citi Double Cash Back 2% for everything else. We cashed in about $1200 all told this year....Christmas was a breeze.
G-Man, you've been getting some valuable advice from folks on this thread. I hope you put all this into action.