Jonathan Clements: Nickel-and-Diming Your Way to Riches

The gamut of checking accounts, savings accounts, money market funds, CDs and all that has been in my head a lot the past couple of months. I’m pretty traditional — checking account and savings account. But maybe it’s time to do something different — and earn a bit more interest in the process:

Link: AllFinancialMatters � Blog Archive � Jonathan Clements: Nickel-and-Diming Your Way to Riches.

One guy that Clements mentions earns $35 – $85 per month in interest by depositing his entire check into a high-yield savings account and then transferring money into his checking account as he needs it. He says he rarely has more than $100 in his checking account. I wonder how much time he spends managing his money? Is it worth $85 per month? I wonder…

Here’s the article online (access may be limited/temporary): Getting Going – WSJ.com

And here’s another post on the same topic: samerwriter » Paying Yourself First

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