Wednesday, April 30, 2008

Interest rates

Today's payday, so I went to pay my Visa bill and see how much money I had lying around. I was kind of sad to see the numbers. I thought I had a lot more money than that, and looking through the transaction log, it seems that my balance has been steadily decreasing. This was worrisome, so I started going through my records, and found a transaction for many dollars that was responsible—I'd put it into my different-bank savings account. This is so unlike me. I didn't even remember doing it. I usually just keep everything in checking; certainly I know it's theoretically better to keep things in savings, but when the difference is about five bucks a month in interest, I usually don't care enough to bother moving numbers from one box to a different box on a different website.

So it turns out I have some money saved around after all, just in my ING Direct account, where I get 3% interest instead of .5% interest like I do in my hilariously pitiful credit union savings account. It used to be 4.5% interest a year ago... oh, economy. (And now I feel super-clever for buying that 5.75% CD half a year ago.) I'm saving up to do some home improvements, mainly redoing my kitchen, which is amusing in its hideousness, but that amusement wears off pretty quickly. My stove is about a decade older than I am, and the cabinets and countertops are unspeakably ugly. I figure that it's half an investment in my sell value, half something to make me like my house better while I live in it, and that seems like a decent enough ratio to make it worthwhile.

I hope to get started on planning out what I want to do with the kitchen in a month, when my CD matures.

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