Financial Fellow

Written by J.P. Wicklein

     Ever checked out the interest rate on a CD or savings account and seen two different numbers?

Written by J.P. Wicklein

Over the last few weeks top interest rates have dropped. The largest dip came from Ally Bank (formerly GMAC bank) – a quarter point decline to 2.00%. Overall, the best online savings rates remain in the 1.5% - 2.0% range.

* Note: Minimum opening balance required to receive APY.

Written by J.P. Wicklein

Next week the federal government will launch their new Income Based Repayment (IBR) program. This program can be a godsend for those struggling to repay hefty education loans. Here’s a quick video that explains the new plan:

Written by J.P. Wicklein

I’ve been thinking about buying some land recently. I’d like to construct a small home on the land and grow food. My ideal slice of land is at least 10 acres, farmable, wooded, and has a pond or stream on it. I don’t plan on moving there. Rather, I’d like to have a place within a 3 hour drive that I can escape to periodically.

Written by J.P. Wicklein

ING Direct is offering a $50 bonus for new Electric Orange online checking account customers. Here are the details of their promotion:

· The online checking account must be opened by June 30, 2009.

· You’re required to make 3 debit card signature transactions within 45 days of opening your account. (When making a purchase hit the “credit” button, instead of the “debit” button, so you produce a receipt that needs to be signed.)

· On the 50^th day after your account is opened ING Direct will deposit $50.

· To receive the promotion you must enter the promo code EM282 during the signup process. You can sign up here or by clicking on the ING logo above.

Written by J.P. Wicklein

I just booked a long weekend in Las Vegas. After an exhaustive search for the best prices on Hotels.com, Expedia, Travelocity, and Orbitz I decided to name my own price with Priceline. Through Priceline I wound up getting the Wynn Hotel for $120 per night (Thursday thru Saturday). If I would’ve booked the Wynn, without naming my own price, it would’ve run me $205 per night on any of the online travel sites (Expedia, Hotels.com, Travelocity, etc…). Needless to say I was pretty happy with the deal I got!

Written by J.P. Wicklein

My 40 minute commute takes me through several suburbs and dozens of stoplights. During the commute I’ll inevitably encounter someone walking between lanes of traffic, with jar in hand, asking for donations. Sometimes they are collecting for well known charities, such as the Salvation Army. Other times the charities are smaller or questionable in nature. It seems like I’m encountering “stoplight charity” much more frequently than I did a few years ago. The bottom line: I’m tired of being asked for charitable donations at red lights.

Written by J.P. Wicklein

      If you’re looking to consolidate credit card debt, launch a small business, do some home improvement, pay for school, or just need some cash you may want to consider applying for a peer-to-peer loan. Lending Club offers unsecured loans to borrowers at interest rates as low as 7.88%. Dozens of individuals put up small amounts of money to fund your loan with Lending Club acting as the middleman.

Written by J.P. Wicklein

     I came across a video recently that registered with me.  Glenn Beck, formerly of CNN and now with Fox News, put together a piece on how much money the U.S. government is issuing. Check it out!

Written by J.P. Wicklein

     When shopping for groceries you’ll often need to decide between different product sizes.  How do you determine which size is the best deal? Take a look at the unit price.