If you’ve been following this blog or our main blog at http://www.stickyasset.com/blog, you know that we are serious about reducing fees or eliminating fees completely from any checking or savings account. You’re also likely to know we are strong believers in building a stronger EMERGENCY SAVINGS FUND than was recommended over the past thirty (30) years. Our recommendation is 15 to 18 months of expenses. This is because of how difficult it may be for you to find appropriate employment to replace your income should you become unemployed (unemployment is expected to rise to 10 – 12% or more by 2010).
However, we find it confusing for most people in terms of where to park money so it earns the highest possible interest (in this environment) AND IS PARKED IN A SAFE PLACE.
That is why we are asking you to take a few moments and spend some time with the FDIC site. You will find a lot of good information on the site (including a way to search for your bank to make sure you know your savings, money market and certificates of deposit are safe).
Rule Number 1 in savings. Do it automatically. Have some pride – NOT in what you make….but it what you save. And make sure your EMERGENCY SAVINGS FUND is FDIC insured.
Thank you for reading our little blog.