But you could do the same thing yourself by setting up a savings account and having $100 (or whatever) go to that savings account instead of your checking account. (I guess everywhere lets you do this anyway - everywhere I have ever worked lets you have direct deposit be split between two accounts.) That way, you get a couple of bucks worth of interest and, more importantly, you could access that money in the event of an emergency rather than having to wait until the end of the year.
Obviously, this used to be a lot more meaningful before interest rates crashed. I used to get about $30/month in interest on my Capital One account before the economy went in the tank ... I want to say they were above 3% interest. You don't get anything close to that now, but at least you still get to control your money.
Tue Feb 14 2012, 02:13 PM #11
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- September 18, 2001
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