Just finally finished my tax prep and I was fantasizing how wonderful it would be to have a husband to do all this for me... that's not going to happen... so I challenged myself by saying "would you give... [sexual favors] to an un-named, un-seen accountant if you could have turned all this over today?" And, of course, I didn't have to hesitate for a second. "oh yeah" -- didn't even have to contemplate that one. I would overlook an accountant with a greasy comb over and fish belly white skin and greet him lustily as I shoved a folder of papers at him. Hiya Big Boy!
Also confronted a worn out belief of mine. For years, well, for all my adult years, I have had a bank savings account and a bank checking account. And I would put my liquidy day to day money in my savings account and transfer to checking as needed. That got less and less of a habit, but old habits die hard and these past few years I've put "extra" liquidy money in the bank savings account. Really based on nothing more than what I considered "too much" to have in checking.
This year, and I am not kidding, my earned interest in my bank savings account was 25 cents. I am not making a joke. That is the real number.
So now I'm asking myself why even have a bank savings account? It's so 20th century -- so mid 20th century. I also have an Ing savings account that started out at 5 percent, then went to 4 and now it's 2 or 3, but at least I made $50 or thereabouts in Ing in interest this past year. Better than 25 cents from Citibank.
I watched "Inside Job" last night which made me really angry. It's a documentary about the whole Wall St meltdown and now I understand way more than I did -- which means I understand about 30% of it. I would definitely recommend it. They are all crooks. They really are. I got the film from Netflix.
I don't know if it impacts your credit score to close a savings account -- and of course I could just let it be dormant, but now it seems like clutter to me -- financial clutter --so does anyone have a reason to keep a savings account at a bank?
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5 comments:
do you get a better deal from your bank by having both? I do too, and I wonder the same thing.
I meant I also have a savings account I rarely use. I don't know if my bank gives me a better deal.
This is so funny because I have had the same thoughts... Why bother, as the return is so ridiculous! I guess the only thing I think of is that if money is in a savings account I have less tendency to spend it.. So it's sort of this stupid mind game I play with myself :). But financially speaking, I see no reason for a separate savings account.
Re: "how wonderful it would be to have a husband to do all this for me"... Even if you have a wonderful husband, there's no guarantee he can do taxes! (Mine can't.) Funny I never fantasized about that, in particular, but when I was single there were things X,Y,Z, for which I thought, how wonderful it would be to have a husband to do X,Y,Z. And it turned out he didn't know how to do those things! Alas, in the real world, it is not a husband that you want -- it is a Personal Assistant from Craig's list!
Re: Savings Accounts earning 25 cents... I still think it is worth it to have a place to put money aside, even if it isn't earning anything, because psychologically, the checking account has money I allow myself to spend, and the savings account has money I am NOT allowed to spend. It's like having a separate pocket -- in this pocket is my spending money, in that other pocket is money for an emergency or the future.
Very good advice, B. On both fronts.
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