- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Savings Acct Questions
Posted on 5/14/13 at 11:25 am
Posted on 5/14/13 at 11:25 am
dont come here often so appreciate any help i can get from you guys. dont have a dad or anyone to talk to about stuff like this.
basically i am ready to open my first savings account. i bank with bank of america. should i go with them? should i look elsewhere? maybe an online bank?
advice? any of you who bank with BoA have savings acct. with them?
TIA
basically i am ready to open my first savings account. i bank with bank of america. should i go with them? should i look elsewhere? maybe an online bank?
advice? any of you who bank with BoA have savings acct. with them?
TIA
This post was edited on 5/14/13 at 11:26 am
4
Posted on 5/14/13 at 11:44 am to S
Interest rates are so low right now, it doesn't really matter. I bank with Capital One and have about 1/3 of my savings with them, and the other 2/3 with an online back. Years back the online bank was paying 4.5% interest which was great. Now I think they are down to like .5%.
Posted on 5/14/13 at 11:52 am to go4lsu
Yeah, it doesn't really matter in terms of rates. You shouldn't keep enough in a savings account for fractions of a percentage to have any meaningful difference. Far more important is customer service and convenience. If you're satisfied with BoA and you'd like the convenience of transferring money internally and having your account info pull up in one web profile, then I'd probably just stick with them.
Posted on 5/14/13 at 12:10 pm to go4lsu
thanks. wish i would have stayed awake thru economics classes so i would be more educated on this kind of stuff.
Posted on 5/14/13 at 12:18 pm to S
quote:
Savings Acct Questions
quote:
economics classes
Prepare Yourself.
Posted on 5/14/13 at 12:32 pm to S
You should go with what bank is more convenient for you since the rates are basically the same at almost all of them. However, there is one perk I use at Regions. They have an auto annual savings bonus that gives you a 1% of the total average balance credit to your acct. You just have to have a auto transfer to acct every month. There might be other banks that offer this. Ally I heard is good too.
This post was edited on 5/14/13 at 12:34 pm
Posted on 5/14/13 at 1:25 pm to S
quote:
wish i would have stayed awake thru economics classes so i would be more educated on this kind of stuff.
Yeah, you wouldn't have learned to invest well in economics class, trust me
Posted on 5/14/13 at 1:44 pm to Vols&Shaft83
I have longed believed that Personal Finance should be a core class taught in colleges these days. I had a really good friend who got his degree in History and a Masters in Management and could not manage his finances or made poor decisions. Instead, we are forced to take Art Appreciation, a Music class, two PE's (tennis FTW), and other random crap. At least that's how it was at the University I attended in 2001.
Another point, I work at an office with 12 professional, college-educated employees, and only two, TWO, contribute to a retirement account. I mean really? ETA: One of them has 30+ years in, will receive a pension and still cannot retire. They also drive a BMW, two different ones in 7 years I have been employed here.
Some of the problem here is the keeping up with the Joneses attitude though.
Another point, I work at an office with 12 professional, college-educated employees, and only two, TWO, contribute to a retirement account. I mean really? ETA: One of them has 30+ years in, will receive a pension and still cannot retire. They also drive a BMW, two different ones in 7 years I have been employed here.
Some of the problem here is the keeping up with the Joneses attitude though.
This post was edited on 5/14/13 at 1:46 pm
Posted on 5/14/13 at 1:48 pm to OnTheBrink
quote:
I have longed believed that Personal Finance should be a core class taught in middle and high school these days.
FIFY
Posted on 5/14/13 at 1:50 pm to ZereauxSum
I get your point and I actually had a personal finance class in high school as part of the core. One of the first things that turned me onto money as I was getting my first job around that time too. But, to not teach it to kids who are, hopefully, fixing to go out into the workplace and make good money is a shame.
Posted on 5/14/13 at 1:56 pm to OnTheBrink
quote:
I actually had a personal finance class in high school as part of the core
Core? I wish I had the option to take that as an elective in HS
I didn't make terrible financial decisions as a young adult, but I definitely could have done better. My parents kind of suck at managing money so there was nothing preventing me from falling flat on my face.
Posted on 5/14/13 at 1:58 pm to ZereauxSum
quote:
Core? I wish I had the option to take that as an elective in HS
Maybe it was an elective, hard for me to remember that long ago. And yes, 15 years ago is long.
quote:
I didn't make terrible financial decisions as a young adult, but I definitely could have done better.
I know I could of.
Posted on 5/14/13 at 2:00 pm to OnTheBrink
quote:
I have longed believed that Personal Finance should be a core class taught in colleges these days.
I personally believe it should be a core class in High school. I know that some schools in TN are starting to use Dave Ramsey's curriculum and are having fantastic results......
LINK
I know Dave isn't everyone's favorite, but it's common sense personal finance knowledge that every kid should be equipped with before they graduate, IMO.
Posted on 5/14/13 at 2:04 pm to Vols&Shaft83
quote:
I personally believe it should be a core class in High school.
I do not disagree at all, I guess my point is why in the hell do I have to take Art Appreciation and Intro to Music as an incoming freshman? If I was not a business major, I would have taken zero finance classes in my time in college.
quote:
I know Dave isn't everyone's favorite
I'm actually listening to Dave right now.
Posted on 5/14/13 at 2:05 pm to OnTheBrink
quote:
Maybe it was an elective, hard for me to remember that long ago. And yes, 15 years ago is long.
Yes. Yes it is. And it goes by fast
I want to say that it's a cross between an elective and a core class here. It's part of a course called Family and Consumer Sciences and I believe you can take it in place of a science course.
Posted on 5/14/13 at 2:06 pm to Vols&Shaft83
quote:
I know Dave isn't everyone's favorite, but it's common sense personal finance knowledge that every kid should be equipped with before they graduate, IMO.
I'm not a fan, but I actually really like this idea for kids. Simple rules so you can have a good framework for learning how to be financially literate.
Posted on 5/14/13 at 2:06 pm to S
And to the OP, I would probably stick with BOA. If you are scared you will touch the money, go with Capital One 360 (formerly ING Direct). I have been with them for 8 years and they make transferring money very seamless.
Posted on 5/14/13 at 2:10 pm to ZereauxSum
quote:
It's part of a course called Family and Consumer Sciences and I believe you can take it in place of a science course.
Yeah, I took some random HomeEc class in high school that sucked. But hey, learned how to iron my clothes. I also took an Econ class in high school, along with Personal Finance, but please do not ask me how I was able to take both.
Posted on 5/14/13 at 2:30 pm to OnTheBrink
quote:
I have longed believed that Personal Finance should be a core class taught in colleges these days.
I have always thought there should be a class in HS that teaches you how to do very basic things. It would have 4 or 5 different sections to it, 1 would be finance, 1 would be automotive, 1 would be cooking, 1 would be houses, 1 would be health, etc.
It would basically prep kids on how to do essential things on their own
After the basic class, kids can decide on taking the more advanced version of which ever section most interested them.
ETA to the OP, just stick with boa, any gains in a savings acct will be pretty minimal right now.
This post was edited on 5/14/13 at 2:34 pm
Posted on 5/14/13 at 2:52 pm to OnTheBrink
Brother is a partner in a large Houston law firm. His conclusion is that most of the senior partners with die working because of no retirement savings. This he says is with seven figure compensation plans. Keeping up with the Jones is the problem.
Page 1 of 2
Back to top
Follow TigerDroppings for LSU Football News