Long Overdue Update
Monday, January 28th, 2008It’s been 26 days since my last post. As I expected, my financial situation has taken a plunge.
The total bill for the car repairs cost $1,360. That totally puts me in a place where I’m no longer keeping the $5,600 of assets. After this bill, I was definitely in the negatives for my net worth. After reallocating large chunks of my savings, I decided to pay this off completely after charging it on my Citi Driver’s Edge card for some rebates. And then I paid off my Citi Diamond Preferred card as well. That much amount of debt for me right now is not fun to look at. Now I only have three credit cards that carry a balance: my Am Ex Sky Blue, Citi Driver’s Edge, and BofA’s World Points (MBNA).
Because I paid off two credit card debts all at once, my emergency savings account is sitting at an ugly pitiful $755. I am at less than 10% of my goal now. Sigh.
Speaking of my savings account and as ratna commented on my previous post, FNBO kicked their rates down to an incredibly sad 4.3%. The fed rates getting cut is always a bad thing for online savings accounts. Surprisingly, Savings Square is still riding high at 4.80%. Maybe I should just join them. Here’s an updated list:
| Bank | APY % |
| Savings Square | 4.80% |
| Washington Mutual * | 4.75% |
| Citibank Direct | 4.50% |
| iGoBanking | 4.50% |
| UFB Direct | 4.50% |
| E*Trade Financial | 4.40% |
| EmigrantDirect | 4.30% |
| FNBO Direct |
4.30% |
| HSBC Direct |
4.25% |
| ING Direct | 3.65% |
*Only with an online checking account.
ING Direct is so pathetic. They chop down their rates more and faster than any online savings accounts out there. I’m surprised WaMu hasn’t made a cut since November. Impressive. I’ve tried to register an account with them online but it’s been freaking impossible because their system won’t recognize my information. Maybe I’ll try going into the branch next time. In other news, I’ve been using my Am Ex Sky Blue credit card for everything and it’s been working out great. I’m racking up points like crazy. I’ll be going away on a vacation soon. But probably later.
