Budget, Save, Save, Save

The holiday season is upon us and for most it will be exhausting. Joyous, fun and expensive. So what is your plan? I am cutting back on eating out (errr still spending too much there!) and trying to stop myself from impulse buying. I will not be a cheapskate when it comes to presents but I will however cut back on some of my expenses to compensate for that. Now is a good time to revisit your budget and check on it. Save some time and regrets that you might face in January when you see your credit card bills!

So What's New?

I would first like to apologize for not updating my blog this week. I have been very busy with exams and work. It was an interesting week. I have been contacted by three recruiters from other companies with high salaries and better positions than I currently have. I flat out refused the first two, but the third one out of curiosity asked what they were offering. Turns out they were willing to pay me $16K more than what I am making right now. I had to decline for various reasons. First of all, I love the place I work at. Sure, it gets frustrating at times and I even think about quitting but I guess I have become comfortable there. Secondly, I do not want to make such drastic choices before I finish my degrees. But it was good to realize what I am worth in the job market.

GMAC Bank Rasies Savings Rate to 5.30% APY

GMAC Bank has raised their savings and CD rates today. They raised their online savings account rates from 5.25% to 5.30% APY. GMAC offers an ATM card, check writing and ACH transfers.

Interest Rates Falling

Interest rates have been falling. E-Loans great 5.75% CDs gone with lower and tired rates. World Savings has no impressive rates or terms. Citibank, Bank of America rates are disappointing. But with the trend of falling rates, try to lock in the highest rate and term that meets your needs. I think I made a mistake giving up on some 6.00% CDs thinking rates might go higher a while back.

Making minimum? You just got a raise - MSNBC Article

Election day was something. I was up until 3 AM flipping through channels as the votes unraveled and looks like Virginia the deciding vote went to the Democrats giving them the majority in the Senate and the House of Representatives. This says something about the Republican Party and President Bush. He said something like this on TV, " I thought we were going to do just fine yesterday, but this shows what do i know.." I think that's what he said or something to that effect.

Back to the minimum wage issue:

"Tuesday's election means more money for minimum-wage earners in several states. Voters there increased the rates above the federal standard of $5.15 an hour." ...... "

"$7.25 high on Democratic agenda"

Read the entire article Here