Short term money

[Mr._johngalt]

Currently I have my short term cash (what little there is)
in a 9 month CD and a bank MM account. The CD pays 2.75%
and matures in Oct. The MM pays 3.25% which still ain't bad, but they have some odd rules.

You have to stay over 10K to get that rate (guaranteed until next spring)]
or you drop to 1.25%. You are only allowed one (1) "in lobby"
transaction (no check writing) per quarter or you get a $25 penalty.
However, you can close the account "early" and the penalty is only $15.
You are allowed 6 "other transactions" per month. For example, you can
trasfer to other bank accounts on line, or you can pay bills
electronically, or you can link to a debit or ATM card. I don't want to do any of this, so I guess I will just let the cash sit until I can get a better rate,
then move and take the $15 hit. I rarely pay electronically and have not
held an ATM or debit card in my life.

JG

 

[Martha]

Don't have an ATM card either. I just know I would use it too much. But then again, my bank is in the same building that I work and I like chatting with the bankers and tellers.

 

[Mr._johngalt]

Don't have an ATM card either.  I just know I would use it too much.  But then again, my bank is in the same building that I work and I like chatting with the bankers and tellers.

I can see the appeal, but I have never been in a position where I really needed
it and my wallet is so fat (not with money) that it makes my butt tired sitting on it.
Why add another card?

JG

 

[Martha]

Isn't there a disorder called something like wallet butt? Guys who sit on their big wallets end up sitting lopsided so their backs hurt?

 

[Mr._johngalt]

Isn't there a disorder called something like wallet butt?  Guys who sit on their big wallets end up sitting lopsided so their backs hurt?

No kidding! And the seats of their jeans wear funny, like those guys who carry
snuff in their hip pockets.........."I'm a Skoal man!". Damn, now I've got that
old "Sam and Dave" tune in my head......."Coming to you, on a dirt road"....
Good memories though

JG

 

[Mr._johngalt]

Isn't there a disorder called something like wallet butt?  Guys who sit on their big wallets end up sitting lopsided so their backs hurt?

There is also one called "Walmart butt". Check the snack aisle at any
Walmart store in America

JG

 

[wildcat]

Wal-Mart
I avoid it all all costs.

Debit Cards
It's weird to think that we are moving towards a no paper money system yet banks charge us to get cash out in many instances. Shouldn't they reward me for not stopping by

 

[TromboneAl]

On a related topic, I'd like to figure out a way to keep less in my business/personal checking account.

I have to keep a balance above $2,500. My royalty check comes in around the 11th of the month, and I want the balance to stay above 2500 even if the royalty check is late.

So, figuring that monthly bills could total $5,000, that means I need to have a balance of $7,500 in that account.

I guess it's no big deal, actually. I'm only wasting about $30 a year by not having this in a MM. Enough for one trip to the Walmart snack aisle.

But any simple ideas on how to keep less in this .75% interest account?

 

[BigMoneyJim]

But any simple ideas on how to keep less in this .75% interest account?

Transfer from MM if bills are due and royalty check is late? Rob Peter to pay Paul.

 

[cute fuzzy bunny]

Get an ing direct or emigrant direct account. Costs nothing, you can transfer money between your checking and the MM account electronically in a couple of business days. Pay 3 and 3.25% respectively last time I looked. You can setup automatic periodic transfers in either direction. And they can be linked to multiple checking accounts so they're a nice free way to move money between checking accounts at different institutions if those places dont allow a direct EFT.

I like walmart. Closest retailer to me and they're building a super walmart about a block closer...that'd be about 1/2 mile away.

 

[wildcat]

I like walmart. Closest retailer to me and they're building a super walmart about a block closer...that'd be about 1/2 mile away.

How do you put up with the crowds and long lines? Go at some crazy hour?

 

[cute fuzzy bunny]

Hardly ever any crowds or long lines. And we have self checkouts that nobody knows how to use, except me...apparently.

 

[wildcat]

Hardly ever any crowds or long lines

That's a first for me

 

[BigMoneyJim]

The old Wal-Mart building is 3 blocks from me. The current Wal-Mart is 5 blocks from me. They're building a new super Wal-Mart 1 block from me. It's kind of funny to drive by 3 Wal-Mart buildings in 4 blocks everyday.

I don't go there much. Too crowded, and whenever I go late at night they either have all the registers closed for some accounting cutover or have an insane floor buffer who chases me all over the store.

 

[MJ]

Currently I have my short term cash (what little there is)
in a 9 month CD and a bank MM account. The CD pays 2.75%
and matures in Oct. The MM pays 3.25% which still ain't bad, but they have some odd rules.

JG,
Open an EmigrantDirect MM account earning 3.25%. It only has a 6 monthly withdrawal limit. Transfer between upto 2 checking account.

 

[MJ]

On a related topic, I'd like to figure out a way to keep less in my business/personal checking account.

I have to keep a balance above $2,500. My royalty check comes in around the 11th of the month, and I want the balance to stay above 2500 even if the royalty check is late.

So, figuring that monthly bills could total $5,000, that means I need to have a balance of $7,500 in that account.

I guess it's no big deal, actually. I'm only wasting about $30 a year by not having this in a MM. Enough for one trip to the Walmart snack aisle.

But any simple ideas on how to keep less in this .75% interest account?

Slideman,

Bank of Internet offers several free checking accounts paying 3%. I have the senior checking account with free checks. The minimum balance is .01. Any checks you deposit are available immediately. You have to be 50. They also have a Boomers checking account for 40 and up. It appears to offer similar options.

Off the subject, I was a classically trained trumpet player. I recently just dusted off my horn and will try to begin practicing regularly.

 

[Nords]

How do you put up with the crowds and long lines?  Go at some crazy hour?

Yeah-- just about any weekday around 9:30! No crowds, no lines, and the sales clerks actually have the time & motivation to chat.

 

[cute fuzzy bunny]

Plus mine has a sams club right next door, so I can kill two shopping birds with one stone. Whatever sams club doesnt have thats on my list or only has in a 5 gallon drum, I go next door to walmart and get.

 

[Spanky]

Off the subject, I was a classically trained trumpet player. I recently just dusted off my horn and will try to begin practicing regularly.

MJ,

Can this be a new revenue stream?

Spanky

 

[JohnP]

Just noticed that my Vanguard Ohio Tax Free Money Market Fund (VOHXX) is paying at a yearly rate over 2.75% based on the May dividend.  No long term committment and checking privileges!

Watch the MMs as they rise!

JohnP

 

[Spanky]

In place of Walmart and Sams Club, we now shop at Super Target (with grocery) and Costco. They are closer to our house and my teennage daughters do not like the business practice of Sam Walton's empire.

 

[cute fuzzy bunny]

I like costco better, but target has higher prices and frequently is out of stock on items for long periods of time.

So far nobodys explained to me how Sam Walton forces people to sell stuff to him, forces people to work for him or forces people to shop there. I've seen plenty of articles interviewing CEO's who said their company works much more efficiently and they've become a lot more successful after dealing with walmart. Most of the people that work there look like they'd probably be unemployable or hard to employ elsewhere. Most of the shoppers look like they need every penny they have.

The small local businesses that complain about the walmarts fight back by not stocking their shelves, not keeping full enough product lines to help me avoid making several stops, employ people who are not at all helpful with the products and services they're selling, and keep business hours that dont match with when I want to shop.

When I can go to the small local hardware store with a list of 6 simple things and actually be able to buy all six things, not see empty shelf space where 1-2 of them are and be able to find an employee who can tell me what the difference is between two particular products, I'll be glad to drive by walmart.

 

[HFWR]

Working in a retail store of any type has never paid much, or had many/any benefits.

 

[laurence]

Wal Mart has good deals, but I can't stand it due to crowds. Usually the mothers have left their kids in the middle of the aisle, tearing open packages and parts scattered around them. Lots of screaming and whining, narrow aisles, I get feeling claustrophobic. Now Target, there is a store you can get me to go to! Love that store.

 

[BigMoneyJim]

[ way offtopic gripe ]

I've held a grudge towards Target since Shrek came out on video; almost 4 years I think. I accidentally grabbed the VHS version of Shrek instead of the DVD version. I discovered it as I was tearing the shrinkwrap, but didn't have the shrinkwrap off or the tape out. They wouldn't let me exchange it, and I've been peeved at them ever since. I worked retail for a while and we regularly re-shrinkwrapped stuff; it was obvious I hadn't taken the tape out and I didn't want a refund but and exchange for a DVD so it wasn't like I had copied it and brought it back. I think the only thing I've bought there since then has been extra-large crew socks because I couldn't find the equivalent elsewhere.