Christmas club could halt debt
Join the discussion below, or Read more at Akron Beacon Journal.
#1 Dec 17, 2007
While it's nice to have a Christmas Club it's part of the old deal. Whenever you have a savings account that has a withdrawl limit, the bank can use that money to loan out. Back when you received 5% compounded quarterly this worked out fine. In todays banks you usually get .025...I'm not going to give them my money to loan out at 18% while they only give me a pittance, I'm going to invest the amount into something that yields a higher return for that year and have a little extra to spend. I might change my mind if the banks stop gouging us, but not until then.
#2 Dec 17, 2007
18%? Not. Not at a bank anyway.
Add your comments below
|Refinance Question....||Jul 11||chintz||1|
|How Underwriters Calculate Income (Mar '14)||Mar '14||Dan||1|
|RDInvesting Provides Investors with Free In-Dep... (Jul '13)||Jul '13||Lance Tankman||1|
|birth date (Dec '12)||Dec '12||birth date||1|
|On The Fly: Pre-market Movers (Dec '12)||Dec '12||Liam Manning||1|
|Survey Says Americans Lack Savings | Ohio News ... (Jun '11)||Jun '11||billy jack||8|
|How to find a high-yield CD that's right for you (Jun '09)||Jul '10||lukewright||3|
Find what you want!
Search Bankrate Forum Now
Copyright © 2016 Topix LLC