It’s time for a Friday Flight! These episodes are all about the week’s news and the effects of Covid-19 on your personal finances. There are a lot of headlines out there, but we are distilling it down to specific takeaways that will allow you to not just weather this health and financial crisis, but to come out on the other side even stronger. In this episode we cover some interesting and helpful stories like companies offering paid time off in order to vote, employers raising minimum wages, Etsy mask sales, Hersey and halloween, a crazy hot housing market, and investing in an IPO. After all of that we discuss why savings account interest rates are low and what to do about it, declining new federal student loans, and effects of a fiduciary rule.
Additional links from this episode:
- Halloween2020.org, check it out!
- If you’re looking for one of the best rates out there, then check out Axos Bank My Savings account which is currently offering .80%. When we recorded the Friday episode, they were offering 1.05% at the time but that has obviously changed! Rates are dropping like a rock. This is a good example that it may not be worth it for you to chase rates if you’re already with a solid online bank, but if you’re currently with one of the bigs who is only offering something like .02%, then it’s definitely time to move on!
And as we’ve ramped up the podcast with an additional Friday episode every week, we could really use your help to spread the word- let friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money in these difficult times!
Best friends out!
1 comment
Hey guys, great episode. I use an online bank called fitness bank. The interest rate is at 1.05%, at the time I’m writing this, and they encourage exercise. You can only get the top interest rate after 12,500 steps.