WaMu Online Savings can be added to the list of online banks who have posted increases in savings account rates. Earlier this month, HSBC Direct Savings extended their 3.50% APY to September 15th.

To take advantage of this great savings account rate, you have to couple it with a WaMu Free Checking account. WaMu’s Free Checking account offers Free ATM cash withdrawals, $1 opening balance, and Cash back for debit purchases. You can read more about Free Checking and a High-Yield savings account from WaMu in our review.

Apply Now!

Here is a quick list to compare some online savings account and their APY for July 31st, 2008:

• WaMu - 3.75% APY
• HSBC Direct - 3.5% APY
• E*Trade - 3.15% APY
• GMAC Bank - 3.00% APY
• ING Direct - 3.00% APY

Who will be the next to post increases?

Popularity: 11% [?]

I came across a Washington Post article about Entry Level salaries for college graduates and the information “raised” my interest.

According to the National Association of Colleges and Employers, the average starting salary offered to college graduates was 7.1 percent higher than what the class of 2007 received. From my last post (Proof of inflation: minimum wage increases), if you aren’t keeping up with these increases, recent college graduates may be passing you and you don’t even know it!

The association’s annual survey was based on 15,239 job offers made at 123 member schools. Here are some numbers from the article of majors that have increased since 2007:

Liberal Arts Majors: 12.6 percent
Computer Science Majors: 13.1 percent
Chemical Engineering Majors: 6.4 percent
Civil Engineering Majors: 6.4 percent

What is causing these large increases?

Maybe because of the recent fall in the economy, corporations took this as an opportunity to replace higher paid employees with lower paid college grads. The demand for smart, eager young people, at a lower cost, raised their starting salaries a bit. That’s just my thought.

How do you ask for what you deserve?

Sources:
Off to a Good Start - Washington Post
National Association of Colleges and Employers

Photo:
georgianalumni

Popularity: 8% [?]

The federal minimum wage increases from $5.85 an hour to $6.55 per hour yesterday. This is the second of three scheduled minimum wage increases, with the final increase scheduled for July 24, 2009 when the minimum wage will rise to $7.25 per hour. This is over a 10% increase per year. If I’m getting an annual 5% increase, am I getting screwed? For detailed rates listed by state click here.

After 2 years of buying hero subs at my local Gregory’s House of Pizza(GHOP), the prices have finally gone up. I’ve been pretty lucky to be getting sandwiches at the price I was due to the rapid inflation in the economy. Their whole menu has increased prices by 25 cents. Not a huge amount but, it is noticeable. Has anyone else noticed any other increases besides, gas, and milk?

Popularity: 9% [?]

I’ve never invested on my own, and I am not familiar on how things work. I am wondering what would happen if I were to invest in say wamu, and they were to get bought out. Would my shares just get bought out also, or would it depend on if the new owners/ management planned on absorbing the company or just restructuring it.

Popularity: 9% [?]

HSBC Direct Savings is extending their 3.50% APY promotion. This offer will now run through until September 15th, 2008. HSBC Direct offers no fees, no minimums, and they’re FDIC insured, so your money is safe and covered up to $100,000.

Apply Now!

Here is a quick list to compare some online savings account and their APY for July 24th, 2008:

• HSBC Direct - 3.5% APY
• WaMu - 3.30% APY
• E*Trade - 3.15% APY
• GMAC Bank - 3.00% APY
• ING Direct - 3.00% APY

Popularity: 11% [?]

The American Express Blue Cash® will be extending its Intro APR to Up to 12 months from a previous Up to 6 Months. You can enjoy 0% Intro APR for up to 12 months on purchases. AMEX will also be lowering the regular APR to as low as 8.99%.

Read our review of Blue Cash® from American Express

Other changes to American Express Cards:

• Blue from American Express® - lowering the Regular APR to “As Low As 8.99%” from “As Low As 9.99%”
• Blue Sky from American Express - extending the Intro APR to “0.00% For Up to 12 Months” from “0.00% for Up to 6 Months” and lowering the Regular APR to “As Low As 8.99%” from “As Low As 9.99%”
• Clear from American Express® - lowering the Regular APR to “As Low As 9.99%” from “As Low As 10.99%”

Popularity: 8% [?]

Recived my check in 4 days. Pretty happy with the speed of the cash back check.

Popularity: 14% [?]

My family owns a house worth about $400,000. The house will need a little work to fix up but then could be rented out for $1500-$2000 dollars a month. It’s a 3 bedroom house close to Harvard University, so I don’t think it would be a problem selling or renting the house out to students or grad students.

Here are my thoughts:

$18,000-$24,000 a year from renters.
A $400,000 home in a good market will appreciate at 3-4% - $12,000-$16,000
I was unable to find the property tax rate but I am guessing it’s about $3,000 a year.
This brings my estimate total to $27,000-$37,000 per year.

$350,000 invested at 8-10% a year gain would be $28,000 - $35,000.
$400,000 invested at 8-10% a year gain would be $32,000 - $40,000.

Given the current market situation, the real estate market, and how both markets can fluctuate, what do you think is a better long term investment? Any opinions are appreciated. Thanks.

Popularity: 11% [?]

link

You can get more detail on each lesson if you follow the link.

LESSON 1
Setting priorities
Here’s help for the first — and often the hardest — step in achieving your financial goals: deciding which goals to pursue.

LESSON 2
Making a budget
How to bring your spending under control, so that you get the most out of every dollar.

LESSON 3
Basics of banking and saving
Here’s how to get the best banking services at the best price, either online or off.

LESSON 4
Basics of investing
An introduction to making money in stocks, bonds and mutual funds.

LESSON 5
Investing in stocks
The market can be a great place to turn savings into wealth — or to lose your shirt. Here are some fundamentals of investing wisely.

LESSON 6
Investing in mutual funds
It’s a mutual-fund jungle out there. Here’s how to create a simple portfolio that works.

LESSON 7
Investing in bonds
Bonds can provide a steady and reasonably secure income, while adding ballast to your portfolio–but only if you really understand what you’re buying.

LESSON 8
Buying a home
Owning your home is part of the American Dream, but if you’re not prepared, buying it can be a nightmare. Here are some fundamentals for buyers and sellers.

LESSON 9
Controlling debt
You’ve got to know when to hold debt–and when to fold it. This lesson shows you how to accomplish your financial goals by making debt work for you.

LESSON 10
Employee stock options
More companies are handing out stock options, and to a much broader group of employees. This lesson gives you vital information on how to handle ESO’s.

LESSON 11
Saving for college
It’s not rocket science, just common sense. By starting early and investing regularly, your children may have a wider choice of colleges, and paying the bill won’t hurt as much.

LESSON 12
Kids and money
Up until they start earning a living, and sometimes well beyond that, kids are apt to spend money like it grows on trees. This lesson will help you put your children on the road to handling money responsibly.

LESSON 13
Planning for retirement
Achieving a comfortable retirement in the 21st Century requires a new approach to retirement planning.

LESSON 14
Asset allocation
The single most important thing an investor can do is practice asset allocation. Here’s how.

LESSON 15
Hiring financial help
What to keep in mind when when seeking professionals to handle your financial planning, stock trading, insurance coverage and tax returns.

LESSON 16
Health insurance
Whether your employer provides you with a group medical plan or you need to buy coverage on the individual market, understanding how health insurance works is the best way to get your money’s worth.

LESSON 17
Buying a car
Buying a car is like no other shopping experience. The choices seem to be endless. This lesson helps you sort through your options.

LESSON 18
Taxes
Among the long list of necessary evils we must encounter throughout our lives, perhaps the most constant — taxes — is also the least understood. But the whole process isn’t nearly as baffling as you may think.

LESSON 19
Home insurance
Homeowners’ insurance can be a nightmare. It’s costly, confusing, and unrewarding — until you have to use it. Here, you’ll learn how to purchase peace of mind now and later.

LESSON 20
Life insurance
Life insurance is critical to financial planning. It’s a necessity for anyone with dependents who would be affected financially by your demise. Yet life insurance is one of the hardest financial products to understand and it’s sold by agents who are sometimes more concerned with their commissions than your needs. This Money 101 lesson is all about a better way to buy life insurance.

LESSON 21
Estate planning
Americans are in the midst of one of greatest inter-generational transfers of wealth in history, yet few of us have done any planning for it. Here’s how to start.

LESSON 22
Auto insurance
Auto insurance can be a nightmare. It’s costly, confusing, and unrewarding — until you need it. Here’s how to purchase peace of mind now and later.

LESSON 23
401(k)s
It’s the most important tool you’ve got for retirement. Here’s how to make the most of it.

Popularity: 14% [?]