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View Poll Results: Should i start a savings account?
Yes 26 61.90%
No 3 7.14%
Depends how fine this booty is at the checkout. 13 30.95%
Voters: 42. You may not vote on this poll

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Old 10-10-2012, 12:29 PM #22
empire112234
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Old 10-10-2012, 12:48 PM #23
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Quote:
Originally Posted by undiscoveredtalent
Banks cannot be trusted, I carry all my savings in cash :nododgy:
lolololololol

edit: at least invest it in something....
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Old 10-10-2012, 12:52 PM #24
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Originally Posted by undiscoveredtalent View Post
Banks cannot be trusted, I carry all my savings in cash :nododgy:
Is that the money you saved from your birthday and christmas? You 12 bro? Holding money that way means you lose value due to inflation, idiot.
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Old 10-10-2012, 12:59 PM #25
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Originally Posted by parkrats

Is that the money you saved from your birthday and christmas? You 12 bro? Holding money that way means you lose value due to inflation, idiot.
You can't see the sarcasm in that? Idiot
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Old 10-10-2012, 01:15 PM #26
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More like he doesn't want to be making large cash deposits when he's "unemployed" knowatimean?
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Old 10-10-2012, 01:20 PM #27
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Honestly you won't earn **** because the interest rates are crap right now. Regardless, it is always a good idea to start a savings account. If you have a job, and don't blow all of your money, you should start putting in some % of your paycheck (10-30% IMO) into a savings account. If you can't afford to put at least 10% of your paycheck into a savings account you might want to budget your life.

Are you just trying to start a savings account or do you have a more specific goal, such as buying a car?
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Where do i sign up?


U poor?
Compared to you, yes.

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Originally Posted by ProtoBaller1991 View Post
lolololololol

edit: at least invest it in something....
Some day, yes. I am a finance major after all.

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Originally Posted by pbmink View Post
More like he doesn't want to be making large cash deposits when he's "unemployed" knowatimean?

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Old 10-10-2012, 01:49 PM #28
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Originally Posted by undiscoveredtalent

Compared to you, yes.

Some day, yes. I am a finance major after all.

More money more problems.

Yee, legal hustling for white people.

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Old 10-10-2012, 02:30 PM #29
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Just keep that $366 in cash, homie. You ballin' out.
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Old 10-10-2012, 03:32 PM #30
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honestly something you really should do is invest preferably in stocks. For long term though pick a company or several companies that you think will be profitable in the next thirty years or so and you can make a decent amount
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Old 10-11-2012, 12:13 PM #31
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If you're planning on a dropping a few dollars in a savings account and expecting it to make you rich by drawing massive amounts of interest, you're sadly mistaken. Even higher yielding money market accounts will not accomplish this for you.

Personally, I'm a fan of savings accounts and having them set to draw from a checking account once a month. Make sure you don't have them linked otherwise and just contribute to it on a regular basis like you're paying a bill. The next thing you know you'll have a decent amount of money to put towards whatever you like.

It's all about self control and discipline.
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Old 10-11-2012, 01:03 PM #32
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invest in junk bonds and penny stocks. put everything into these. you'll be so rich.
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Old 10-11-2012, 01:22 PM #33
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Learn to finance you n00b.

If you have to ask whether or not it's smart to save money then you're a lost cause at this point.
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Old 10-11-2012, 01:23 PM #34
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Invest in *****es, *****es are always in high demand and if the market falls you still.got *****es so **** it.
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Old 10-11-2012, 01:27 PM #35
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Invest in *****es, *****es are always in high demand and if the market falls you still.got *****es so **** it.
I like the way you think.

You're hired.
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Old 10-11-2012, 01:28 PM #36
BodyCount81
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Quote:
Originally Posted by CallsignMagic View Post
If you're planning on a dropping a few dollars in a savings account and expecting it to make you rich by drawing massive amounts of interest, you're sadly mistaken. Even higher yielding money market accounts will not accomplish this for you.

Personally, I'm a fan of savings accounts and having them set to draw from a checking account once a month. Make sure you don't have them linked otherwise and just contribute to it on a regular basis like you're paying a bill. The next thing you know you'll have a decent amount of money to put towards whatever you like.

It's all about self control and discipline.
This guy has it figured out.
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Old 10-11-2012, 02:26 PM #37
Ryan3773 (Banned)
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Originally Posted by dualimpact
Invest in *****es, *****es are always in high demand and if the market falls you still.got *****es so **** it.
This. Also, start a roofing company. As the United States fills up with more and more Mexicans you will be able to fill the jobs in your new roofing company with cheaper and cheaper labor.
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Old 10-11-2012, 03:14 PM #38
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Quote:
Originally Posted by undiscoveredtalent View Post
Honestly you won't earn **** because the interest rates are crap right now. Regardless, it is always a good idea to start a savings account. If you have a job, and don't blow all of your money, you should start putting in some % of your paycheck (10-30% IMO) into a savings account. If you can't afford to put at least 10% of your paycheck into a savings account you might want to budget your life.

Are you just trying to start a savings account or do you have a more specific goal, such as buying a car?
I want a house or atleast some type of emergency fund.
No wife, No kids, No family.
Trying to plan out my future.

Quote:
Originally Posted by Xanatos903 View Post
Why wouldn't you?

It's not going to earn you massive amounts of money by putting $100 in there. But it's meant as a place to separate your disposable income from your.. well.. savings. I drop about $100 into my savings each month to use for spur of the moment trips, or unplanned expenses. As a college student, I'd say I'm doing pretty well there.

If you've got a job, it's a really good feeling just to see the money pile up in there. Once you get past $1,000, it's almost a goal to just keep building it up.
Nice i'll make this a habbit.
Should i open a Savings Account at my Current bank?
I use Bank Of America but i hear local credit community banks are better for interest.


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Originally Posted by smeat View Post
Don't do it, OP. You'll get a virus.
lol
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Originally Posted by doomsday57 View Post
honestly something you really should do is invest preferably in stocks. For long term though pick a company or several companies that you think will be profitable in the next thirty years or so and you can make a decent amount
I dont know **** about stocks though.

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Originally Posted by R2-D2 View Post
invest in junk bonds and penny stocks. put everything into these. you'll be so rich.
Junk bonds? are you trolling or being serious i can't tell lol.
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Old 10-11-2012, 03:20 PM #39
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Credit Unions are almost always better for interest rates, both for deposits and loans. I joined one in my college's town about a year ago, and couldn't be happier. I was using Wells Fargo previously, and switched after they started charging me to hold an account with them.
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Old 10-11-2012, 03:25 PM #40
BodyCount81
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I would open up a savings account at the same bank you use right now. You won't be earning enough to make it worth while to keep them separated. This will also make it a lot easier to transfer money in between your savings.

How old are you?

Xan, what were they charging you for exactly?
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Old 10-11-2012, 03:29 PM #41
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I would open up a savings account at the same bank you use right now. You won't be earning enough to make it worth while to keep them separated. This will also make it a lot easier to transfer money in between your savings.

How old are you?

Xan, what were they charging you for exactly?
21 yrs old with no family to guide me through life.

i'm a lone wolf trying to survive. I was reading about retirement plans also.
ROTHS IRA my buddy told me not to do that but when i read online it says to open one.
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Old 10-11-2012, 03:36 PM #42
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Quote:
Originally Posted by BodyCount81 View Post
I would open up a savings account at the same bank you use right now. You won't be earning enough to make it worth while to keep them separated. This will also make it a lot easier to transfer money in between your savings.

How old are you?

Xan, what were they charging you for exactly?
I can't quite remember what it was. I was charged like $10 per month for savings, and $5 for checking. I had a joint checking/savings account, much like the one that I've got with my credit union.

It wasn't a minimum balance fee, since I've maintained a pretty good balance in my account. I think it may have just been a fee to have an account. They said I could waive the fees somehow, but they never explained the process.

But the credit union I bank with now is working out much more nicely. $0.10 back on every purchase, 2.0% auto loan if I decide to buy a car soon (well, I'll probably get much more than that due to a lack of credit, but that's the rate they advertise), and an easy line for a credit card if I want one. All that with some sweet online benefits.
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