Tuesday, September 02, 2008

Gone in Sixty Minutes: $100

When I was a kid, a hundred dollars was a whole lot of money. Heck — my very first paycheck was only sixty-something bucks. I remember going out to the garage to show it to my dad, and telling him how surprised I was for the paycheck to be THAT MUCH.

My, how times keep changing. This, the tab from our last Sunday afternoon of August, 2008:

It goes quick, huh?

A hundred bucks — gone in sixty minutes.

Good thing inflation is only five percent or so, while the most popular online savings account pays a mere three percent.

That, kids, is what's called a losing battle.

But you still gotta fight it.

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— Posted by Michael @ 9:16 AM


Can't really show you empathy on this one. Good job on driving the Honda but what's with renting two video games for $18.00? Also, for the money you spent on barbeque, you could have had at least two family steak dinners at home. Not critizing your leisure time spending choices, but they were choices.


@ Mr. Toughmoneylove,

Not gunning for empathy or sympathy on this one. Just seemed like an easy way to show just how far a Benjamin doesn't go these days.

@ Infidl:

Yeah, but the reason Wamu is paying that rate is because they're starved for cash. I try to not have my savings in banks whose stocks are trading around four bucks per share. FDIC insurance makes this a non-issue, I know, but it's a hassle I don't much want to mess with if I can help it.



I know this is off-topic in a way, but ...

I don't see how there's any significant hassle potential w/an FDIC-insured account. My brother had a lot of money in a CD with IndyMac, and after the Feds came in it was maybe a day before it became IndyMac Federal Bank, FSB. Business as usual for him after that. Nothing changed but the bank name from his perspective. Such a small inconvenience is not something that I myself would lose sleep over, and the APY delta adds up to real money for me.


Isn't this what the grandpa's are supposed to tell us? "Back in my day I could eat a whole cow for 3 cents..." but I guess things are getting so bad, we get to skip a generation and tell these stories to our friends instead of children and grand children!

** Comments Closed on this Post **

Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof).

My financial life began turning around when I took responsibility for it.
— Dave Ramsey


Start (2005-12): ~$21,900
Currently: $0
[About Our Debt Paydown]


Savings Goal: $15,000
Currently: ~$15,115
[About Our Liquid Savings Goal]