How To Build A CD Ladder and Get The Highest Interest Rate

By MoneyBlueBook

During tough times, there is always the inevitable flight to quality as investors seek out stable investment options to keep their money safe from loss. Oftentimes these safe investment choices include U.S. Treasury Bills, high interest savings, and money market accounts. However, those who want to shield their money from unnecessary risk during uncertain times but still maintain a very competitive rate of return ought to strongly consider certificate of deposits (CDs). Because CD's are issued by banks and credit unions, they enjoy the same iron clad FDIC insurance coverage and equivalent that checking accounts and saving deposits enjoy. When you buy a certificate of deposit through a bank and choose to invest your money in a CD, you can rest easy knowing that your money is fully protected up to the full FDIC coverage limit from unexpected loss (the current FDIC limit is $250,000).

While in the long run, investing in the stock market is the best way to earn high growth returns, sometimes the market conditions and wild price swings are too much to handle for some conservative short term investors. Especially for those you looking to preserve your capital and build up emergency fund savings within a short time frame, you may be more comfortable investing your money in a predictable interest bearing asset, like a high yield savings account or a CD. While I frequently solicit the use of safe investments for specialized purposes, I'm still an active bank interest rate chaser at heart - a person who

By MoneyBlueBook

After two decades at the same coverage limit, the U.S. government has finally stopped dragging its knuckles and raised the FDIC insured limit for bank deposits from the previous FDIC limit of $100,000 - up���� to the new limit of $250,000 per depositor, per insured bank. For your average bank customer, this means that he or she will now receive full FDIC insurance coverage up to $250,000 for the total sum of their single accounts (checking, savings, and CD deposits) at each banking institution. Other account category types like joint accounts and trust accounts will also each enjoy separate increased $250,000 limits at each bank. However, retirement accounts held by banks as FDIC insured deposits will remain at the previous $250,000 limit.

For those who don't know, the FDIC stands for the U.S. Federal Deposit Insurance Corporation, a federally run government organization that protects bank customers from the loss of their deposits in the event of a catastrophic FDIC-insured bank failure. The protection afforded by FDIC insurance is near iron-clad as it is backed by the full faith and credit of the United States government. There is no need for bank depositors to apply for FDIC insurance or even to request it as coverage is automatic. Below are the new and current FDIC insurance coverage limits for deposits at FDIC insured member banks. The new FDIC limits are effective starting October 3, 2008 and tentatively scheduled to expire on December 31, 2009. While the FDIC does not directly cover deposits held in credit union institutions,

By MoneyBlueBook

So you want to be a millionaire? Well you know what? Me too - and I'm determined to get there in the near future. At this very moment, despite the current state of the economy and the deteriorated condition of the credit markets, instead of just sitting on my hands and wishing upon a star, I'm taking active steps right now to make it all possible someday. While having a financial net worth of a million dollars isn't what it used to be because of the negative effects of inflation, it's still the measuring stick we use today to delineate the dreamers from the ones who have financially made it.

I know it's not an unfathomable dream to have because I've seen the system work firsthand. The possibility is not just reserved for celebrities or the elite, but is very real and plausible for ordinary people as well. One of my close childhood friends is a multi-millionaire. And he's only 30 years old. He's not a self made millionaire as he inherited the vast bulk of his fortune from his parents, but it was his parents who put forth the gears of financial practice many years ago that brought their finances to what it is today. From the time my friend's parents married, they lived a very frugal life. While they were by no means cheap, they avoided the peer pressures and temptations of living lavishly, opting instead for a humble home they could afford and limiting pricey expenditures like dining out to only rare occasions.

By MoneyBlueBook

Updated List Of The Best High Yield Online Savings Banks Below!

With the current flight to quality amidst the widespread economic meltdown, American consumers concerned about the safety of their money and investments are increasing turning to trusted online banks and high yield savings accounts for the FDIC insurance protection they afford. For those of you looking for the best online banks in terms of those that offer the highest interest rates for checking and savings accounts, you've come to the right place. The following compilation below is a short list and summarized review of what I believe to be the current top five online banks among the many banking choices in the market today. While most of the high interest banks found online offer similar banking features like direct deposit, online bill pay, automatic savings, and the ability to apply for new high yield savings accounts online, they are not all the same. Certain online banks clearly stand out from the pack in terms of proven high marks and rankings in reputation and customer support. Below, I've listed what I believe to be the top 5 online savings and checking banks. As an active high interest bank interest rate chaser, I intend to regularly update the list and my reviews to reflect major interest rate changes and shifts in reader preference.

As a reflection of the much lower overhead expenses that they enjoy, online savings banks tend to offer much better annual percentage yields (APY) for savings accounts, money market accounts, and CD's than

By MoneyBlueBook

Whether we want to acknowledge the grim reality or not, the vast majority of the American public is undergoing a mental crisis at the moment during this difficult period of economic recession and housing depression. Indeed, this economic slowdown is causing many Americans to struggle financially, and the series of collapses of major commercial banks and investment brokers have led to a domino effect of pink slip closures and layoffs. With the bailout of major global insurance conglomerate AIG and the takeover of mortgage loan giants Fannie Mae and Freddie Mac by the spend-happy federal government using taxpayer money, significant numbers of shareholders and stakeholders have been financially wiped out in the process. Collapsing under the weight of bad mortgage debts and the loss of value in their subprime mortgage loans, major mortgage lenders like Countrywide and investment brokerage banks like Merrill Lynch and Lehman Brothers have had to engage in significant write offs and ultimately put themselves up for sale at bargain basement discounts.

With the FDIC shutdown of major thrifts and banks like IndyMac and Washington Mutual, as well as the shakeup at Wachovia, even historically secure commercial banks are starting to feel the credit crunch squeeze. With the recent bank safety scares hitting Wall Street and now Main Street, bank deposit customers have been sent reeling and scrambling to check FDIC insurance coverage limits - calling their banks to arrange their affairs for sufficient coverage. When FDIC insured bank consumers are feeling uncertain and fearful, you know the confidence of the American people

By MoneyBlueBook

Updated Selection Of The Top Credit Card Rewards For Each Spending Category

The economy may be struggling with higher gas prices and soaring food costs, and families may be reluctantly tightening their financial belts when it comes to spending money on vacations and even cutting back on basic necessities, but according to a Forbes personal finance article, many of us are under-utilizing a potential source of free money. This source of extra funds stems from loyalty programs, commonly in the form of credit card rewards programs that offer everything from frequent flyer miles for free airline tickets, to free gas and grocery discounts, to free gift cards and straight up cash incentives for everyday purchases. In exchange for becoming a loyal user of their reward credit card program, card issuers are very willing to dish out a large variety of attractive rebates and rewards in the form of free dollars, miles, and redeemable reward points.

While I personally prefer cash back credit card rewards that require little to no redemption maintenance actions, those who want to earn the highest credit card rebates generally go with point rewards or airline mileage offers that provide higher earning opportunities. Of course, with the higher rebate rewards comes the extra work of redeeming and keeping track of bonus points and miles earned. But if you are savvy and don't mind engaging in a little bit of periodic program micro-managing, you are bound to enjoy quite a bounty of credit card usage incentives.

Oftentimes, card holders are already earning