Comments on: Poll: With significant interest rate cuts recently, what are your plans for emergency funds or other savings?

By: Archetypical

Archetypical — Wed, 13 Feb 2008 01:08:48 +0000

Finding the highest rate possible and it seems like a perfect time to pay off the college loans, I’ll get a better return than any of the ‘high-interest’ savings accounts and my income level doesn’t allow me to deduct the interest anyway.

By: ChristianPF.com

ChristianPF.com — Wed, 06 Feb 2008 17:49:42 +0000

Yea, I think I am going to keep looking for the best rates possible (like most others) but without sacrificing customer service. I am willing to lose a few bucks to make my life more enjoyable…

By: Fiscal Musings

Fiscal Musings — Tue, 05 Feb 2008 02:07:00 +0000

I’m not going to do too much different, but I am thinking about using some of the cash reserves to pay off some student loan debt. With the sinking rates it’s going to be a little bit better use of the funds.

By: David

David — Mon, 04 Feb 2008 23:03:12 +0000

The recent cuts will stimulate the economy significantly. The stock market should hit new highs this year, probably late in the year. I would use this as a stock buying opportunity.

On the other hand, the dollar will probably continue to slide and if inflation rears its head the Fed will have to raise rates quickly to slow it.

By: Jen

Jen — Fri, 01 Feb 2008 17:48:13 +0000

I checked Other – for no changes. My emergency fund is in a Vanguard money market, which still has a higher return than a regular savings account.

I know I could increase my returns my using CD’s, but I want to keep things simple.

By: Working Dollar

Working Dollar — Fri, 01 Feb 2008 05:38:55 +0000

I intend to hold fast to what I currently have for savings – HSBC who recently dropped their rate down to 3.8%. I’ll ride this out, it will evetually be raised back up.

By: moneyloveandchange

moneyloveandchange — Fri, 01 Feb 2008 05:25:04 +0000

This is a tough one! We have an emergency fund set up already, and we are ok with the amount we have in it. We were planning on adding to it significantly in the near future so that we have money for another vehicle when the time comes (our truck is closing in on 200,000 miles). This is a short-term goal, so I am hesitant to invest the money in anything else, but don’t like the idea of having a lot of money that isn’t earning much at all.

By: Frugal pursuit

Frugal pursuit — Fri, 01 Feb 2008 03:40:51 +0000

While having the best yield possible in a savings account is good, I am happy where I am at and am unlikely to change. That means when CDs come for renewal, I will leave them at the same term whatever the rate, and my current online savings accounts will stay open with occasional cash deposited.

By: Frugal Dad

Frugal Dad — Fri, 01 Feb 2008 02:55:08 +0000

I don’t get too concerned over my interest rate on emergency savings because that money is there only for emergencies, not for investment. Now, I don’t go out of my way to earn 0.0% and stick the money in a checking account, but a decent online savings bank offers a good enough return for me.

By: Hecate

Hecate — Thu, 31 Jan 2008 23:33:34 +0000

VANGUARD MONEY MARKET RESERVES (VMMXX)currently paying 4.32 seven-day yield. And BTW: Vanguard was savvy enough with their due diligence NOT to buy into the mortgage CDOs.