Comments on: How I Bank http://www.1stMillionAt33.com/2006/04/how-i-bank/ A site to share my tips, tools, and humble thoughts on the journey to wealth Sun, 02 Oct 2011 19:26:45 +0000 hourly 1 http://wordpress.org/?v=abc By: packers and movers in pune http://www.1stMillionAt33.com/2006/04/how-i-bank/comment-page-1/#comment-6002 packers and movers in pune Fri, 01 Oct 2010 11:28:29 +0000 http://www.1stmillionat33.com/2006/04/how-i-bank/#comment-6002 I want to express my admiration of your writing skill and ability to make reader to read the while thing to the end.. I want to express my admiration of your writing skill and ability to make reader to read the while thing to the end..

]]> By: frugal http://www.1stMillionAt33.com/2006/04/how-i-bank/comment-page-1/#comment-318 frugal Mon, 12 Jun 2006 06:38:02 +0000 http://www.1stmillionat33.com/2006/04/how-i-bank/#comment-318 Yes, I believe that using Treasury Direct, you can buy bonds directly from the US government. However, I never purchased any such bonds whether it's I-bonds or regular bonds, because I believe bonds will become the games for losers due to higher inflation (and that includes I-bonds too when CPI are a little massaged by government). Yes, I believe that using Treasury Direct, you can buy bonds directly from the US government. However, I never purchased any such bonds whether it’s I-bonds or regular bonds, because I believe bonds will become the games for losers due to higher inflation (and that includes I-bonds too when CPI are a little massaged by government).

]]> By: Adam http://www.1stMillionAt33.com/2006/04/how-i-bank/comment-page-1/#comment-317 Adam Mon, 12 Jun 2006 04:32:38 +0000 http://www.1stmillionat33.com/2006/04/how-i-bank/#comment-317 here http://www.moneysavingfreetips.com/ibonds-rates.html it says you can buy i-bonds from treasurydirect online... anyone ever bought such ibonds from treasury direct? is it a safe investment? what interest rate did you get? here http://www.moneysavingfreetips.com/ibonds-rates.html it says you can buy i-bonds from treasurydirect online… anyone ever bought such ibonds from treasury direct?

is it a safe investment? what interest rate did you get?

]]> By: frugal http://www.1stMillionAt33.com/2006/04/how-i-bank/comment-page-1/#comment-78 frugal Fri, 05 May 2006 14:45:51 +0000 http://www.1stmillionat33.com/2006/04/how-i-bank/#comment-78 Hi Dus10, Sorry that I couldn't respond to you sooner. Just wonder how your points are converting to dollar on your check card. I will be writing an article soon on my credit cards, but if you can't wait, you could click on the EmigrantDirect link, and it will get you to the 4.5% savings account AND 1.4% cashback credit card. I also have some reservation about I-bond. It is the least harmful among all bonds. But I believe that is still a bond that authorizes the government to steal money away from you. Check out <a href="http://www.1stmillionat33.com/2006/05/my-take-on-the-market-outlook" rel="nofollow">my latest market view</a> and my inflation article. I will be writing more related articles too. I think a better investment choice may be a high dividend paying stock which will hedge against inflation. I will disclose more details in the next week, beyond my article on <a href="http://www.1stmillionat33.com/2006/05/my-dividend-investing" rel="nofollow">My Dividend Investing ($11775.91 for 2005)</a> Hi Dus10,
Sorry that I couldn’t respond to you sooner. Just wonder how your points are converting to dollar on your check card. I will be writing an article soon on my credit cards, but if you can’t wait, you could click on the EmigrantDirect link, and it will get you to the 4.5% savings account AND 1.4% cashback credit card.
I also have some reservation about I-bond. It is the least harmful among all bonds. But I believe that is still a bond that authorizes the government to steal money away from you. Check out my latest market view and my inflation article. I will be writing more related articles too. I think a better investment choice may be a high dividend paying stock which will hedge against inflation. I will disclose more details in the next week, beyond my article on My Dividend Investing ($11775.91 for 2005)

]]> By: Dus10 http://www.1stMillionAt33.com/2006/04/how-i-bank/comment-page-1/#comment-57 Dus10 Mon, 01 May 2006 13:06:01 +0000 http://www.1stmillionat33.com/2006/04/how-i-bank/#comment-57 I have adopted a similar method for Internet banking. I signed up for the HSBC Online Savings account and got $25. I then signed up for the HSBC Free Checking Account and got $10. Combined, the $35 basically took care of my first set of checks and some savings deposit slips. I have kept my free checking account at my local bank for a couple of reasons. I needed some local ATMs, as there are no HSBC ATMs in my state. Also, I wanted somewhere I could go and immediately deposit checks, if necessary, rather than having to mail them to HSBC. Further, my local bank just started offering a points program for using my check card. I have about 10,000 points already, and I get a $100 gift certificate when I hit 40,000 points. Why switch to HSBC for checking? It is linked directly to my savings so I can transfer funds immediately. I really like being able to do this. I can transfer my mortgage payment to my savings until the day after I mail it out. That increases my average daily balance in my savings account. Also, if I run into an emergency, I can use the saved funds. I have direct deposit setup to put $45/per pay into my HSBC Online Savings account, $25/per pay into my local checking account and the net of my pay into my HSBC free checking account. Why those numbers? Well, I did a reverse amortization to see how much I needed to sock away in savings to have $10,000 in ten years. Essentially, at 4.50%, I would have to put in just over $33/per pay (I get paid semi-monthly, 1st and 15th), and I would have $10,000 in ten years. So, I figured that I should bump it up a bit to get there more quickly. This was intended as emergency funds, so I wanted them to be there in case of an emergency. In ten years, I should really need emergency funds... as I hope to be well off, but having some easily accessible cash is always nice. If I follow this plan, I will get their in less than eight years. I also intend to stick a bit extra away when I have the opportunity. The next step will be working towards my $35,000 in treasury funds (I-bonds). I plan to get there in ten years, as well. That would take just under $57/per pay at 6.73%. Also, I like to pad it a little, as the rate may decrease. I have adopted a similar method for Internet banking. I signed up for the HSBC Online Savings account and got $25. I then signed up for the HSBC Free Checking Account and got $10. Combined, the $35 basically took care of my first set of checks and some savings deposit slips. I have kept my free checking account at my local bank for a couple of reasons. I needed some local ATMs, as there are no HSBC ATMs in my state. Also, I wanted somewhere I could go and immediately deposit checks, if necessary, rather than having to mail them to HSBC. Further, my local bank just started offering a points program for using my check card. I have about 10,000 points already, and I get a $100 gift certificate when I hit 40,000 points.

Why switch to HSBC for checking? It is linked directly to my savings so I can transfer funds immediately. I really like being able to do this. I can transfer my mortgage payment to my savings until the day after I mail it out. That increases my average daily balance in my savings account. Also, if I run into an emergency, I can use the saved funds.

I have direct deposit setup to put $45/per pay into my HSBC Online Savings account, $25/per pay into my local checking account and the net of my pay into my HSBC free checking account. Why those numbers? Well, I did a reverse amortization to see how much I needed to sock away in savings to have $10,000 in ten years. Essentially, at 4.50%, I would have to put in just over $33/per pay (I get paid semi-monthly, 1st and 15th), and I would have $10,000 in ten years. So, I figured that I should bump it up a bit to get there more quickly. This was intended as emergency funds, so I wanted them to be there in case of an emergency. In ten years, I should really need emergency funds… as I hope to be well off, but having some easily accessible cash is always nice. If I follow this plan, I will get their in less than eight years. I also intend to stick a bit extra away when I have the opportunity.

The next step will be working towards my $35,000 in treasury funds (I-bonds). I plan to get there in ten years, as well. That would take just under $57/per pay at 6.73%.

Also, I like to pad it a little, as the rate may decrease.

]]> By: » Carnival of Personal Finance #46 » Consumerism Commentary: A Blog About Personal Finance http://www.1stMillionAt33.com/2006/04/how-i-bank/comment-page-1/#comment-56 » Carnival of Personal Finance #46 » Consumerism Commentary: A Blog About Personal Finance Mon, 01 May 2006 03:45:25 +0000 http://www.1stmillionat33.com/2006/04/how-i-bank/#comment-56 [...] Frugal from My 1st Million at 33 writes about how he uses banks for keeping his money safe. He mentions , ING Direct, and Emigrant Direct. (630 words) [...] [...] Frugal from My 1st Million at 33 writes about how he uses banks for keeping his money safe. He mentions , ING Direct, and Emigrant Direct. (630 words) [...]

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