Another Rant about the market
Posted in Money by Christina on January 30th, 2008
For those people that are actually trying to save money like Brian and I, we’re noticing that the interest rates on our ING account has dropped from 5.5% to 3.590%. How lame is that. It’s like we have to pay because the market is going in the dumps. I should be like my mom and invest in gold. She bought hers at around 500 bucks about 10 years ago, and the value today is over 900 bucks per whatever weight it is. That’s a sweet increase.
Anyway, we started on our taxes this past weekend. After owning a house and whatnot we still owe the dang government. What’s up with that?
Interest rates drop to encourage lending and spending. Theoretically, the drop hurts the rate we get on our savings but encourages businesses to spend and boosts the economy.
January 31st, 2008 at 9:06 pm #
i know why the interest rates dropped, i want to save not spend. it’s kinda like the whole grading on a curve thing, the people that aced the test doesn’t necessarily benefit from it, but it certainly helps the people that failed.
February 1st, 2008 at 10:52 am #