Comments on: The savings game.

By: Mugwug

Mugwug — Tue, 11 Nov 2008 19:42:07 +0000

Dad: I hate the big banks. Hate them, neener neener nah nah… etc etc.

Greg: Ok, ok, ok…we get it. You’re going to be a lawyer, yes, yes, yes. Shouldn’t you be in a library somewhere studying instead of lurking around the internet bragging?

-GRIN-

In all seriousness, you are studying the possibility of using the “believed victim to be the reanimated body of deceased person intent on consuming his flesh” defence for me, right?

Traci: That’s what I’m saying!

By: Traci

Traci — Mon, 10 Nov 2008 15:57:51 +0000

I love ING Have been with them for 7 years now and have no worries what so ever!.
like the ING guy (Frederick) say’s watch your money grow! and Save your money after all its your money!

By: Greg

Greg — Sun, 09 Nov 2008 21:51:09 +0000

You know, being that I’m in the most expensive kind of educational program in university, for me, $25 twice a month is actually a bit rich for my blood. When I paid my first semester tuition, the clerk commented that us law guys pay more in one semester than most students pay for a couple of years. I’m so skint, I rely on free internet in the law library. I look back fondly on my wealthy days as an entry level guy at the Mighty P.

Of course, instead of having $1,800 in three years, I’ll have a degree that will make my distinct lack of interpersonal skills no barrier to employment for the rest of my life. I regard this as an investment strategy of sorts.

By: Matti

Matti — Sun, 09 Nov 2008 15:31:35 +0000

Never ceases to amaze me that people are still using the chartered banks for their savings accounts. Not only are the rates lower than those offered by the alternatives (like ING, PC Financial, Canadian Tire) but the chartered banks play reprehensible games …

For example, Scotiabank introduced their ‘high rate’ savings account in the 1990s … ‘Gain Plan’. Since then, they’ve reduced rates on that ‘high rate plan’ to 0.025% on deposit balances under $5,000. Why? Because 10(?) years ago they introduced their ‘new’ high rate ‘Money Master’ account which paid competitive rates, but which has since dropped to 1.5% for deposits up to $5,000. Why? Because – wait for it – they’ve recently introduced their ‘real’ high rate savings account, ‘Power Savings Account’, which pays 3.0% … provided you’re willing to leave at least $5,000 on deposit.

With PC Financial and Canadian Tire currently paying $3.05%, ING offering 2.70% and all with no service fees, why would anyone continue to deal with the chartered banks and their lousy rates and insidious service fees?