keep the change?!

[EarlyBird]

Okay so many people have probabl heard of bank of america's keep the change right?if not its basically a forced savings plan.. When you buy something and its 9.01 and you pay with you BOA check card you automatically get charged 10.00 and the remaining .99 goes into a savings plan. Basically its earns a low interest but it urges you to save.

Well.... im an avid wachovia user and have never wanted to switch to BOA cuz my loyality to wachovia runs pretty deep. SO TODAY I FIND OUT wachovia has a new porgram.. way to save. it take 1.00 from your checking account each time you pay a bill, use your check card etc etc and basically its a savings account and at the end of the year they pay you interest of what you have saved.. :) You can withdraw at any time :) I must pay at least 35 bills and use my check card 5-6 times a week --- when you think of it thast about an extra 55$ a month in my checking account but it comes out little by little and you never really miss it.

so basically ------- i have a new wedding savings plan and its slow but steady and in the end i will be able to buy at least SOMETHING with it :) Im going to make sure i use my check card often now..

Just thought i would share in case anyone else is interested

[PGDesigns]

J has BOA, and he loves that he is saving little by little. He also has a Wachovia account, so now, he'll be even happier. :)

[WebLady]

I have Wachovia, I will have to look into this :panda:

[NOTKT]

Chase doesn't have that...

[EarlyBird]

notkt- im sure its just a matter of time before they have something like it :) Wachovia just launched their new program this week. I used my debit card 5 times today on little stuff so i was so happy when i saw 5.00 in the savings. little by little, i will save up for the wedding. then after the wedding we will use the account to save up for fun stuff like a new tv or computer or dining table :) im so excited i could scream --- this really forces you to save

[Nekochanpurr]

I would look into this, but i think if i did it (and they took it out) i wouldn't have anything left in my checking and i'd bounce a check! LOL
Yes, i am that low!

[bichonlvr]

I do the BofA...keep the change and I always think of Home Alone..Keep the Change you filthy animal LOL!!!

[EarlyBird]

hahaha megan.. that comment is the reason your in a class all your own :)

[val24]

LOL@Megan!!!!

that movie was just on recently

[flyerso6]

I have something similar at my bank, you never really miss the money and it can add up if I can stop transferring it back to my checking account. I didnt touch it for about 5 months and saved enough to pay my 6 month car Insurance bill!!

[Brianne1114]

I have the BoA keep the change and it's great - I've saved a ton of money that way because I use my debit card all the time. Plus, when I'm at the gas pump I automatically make the amount $XX.01 so that $0.99 goes to savings.

I will say that this is not my primary savings acc't though - the interest rate is ridiculously low so I keep the bulk of my savings in my ING account.

[saltyveruca]

I have the BoA keep the change and it's great - I've saved a ton of money that way because I use my debit card all the time. Plus, when I'm at the gas pump I automatically make the amount $XX.01 so that $0.99 goes to savings.

I will say that this is not my primary savings acc't though - the interest rate is ridiculously low so I keep the bulk of my savings in my ING account.

Good plan. I was just going to say that the interest rates most regular banks will give you are so cruddy. I like E-trade because I locked in a 5.05% interest rate. With Wells Fargo, the best I got was like .7% (I think), and that was on a money market savings. Having such a high rate of return is a great motivation to save...whenever I look at my account I turn into a miser trying to figure out how I can max out the interest I'll earn before the year is up!

[spuls5]

Good plan. I was just going to say that the interest rates most regular banks will give you are so cruddy. I like E-trade because I locked in a 5.05% interest rate. With Wells Fargo, the best I got was like .7% (I think), and that was on a money market savings. Having such a high rate of return is a great motivation to save...whenever I look at my account I turn into a miser trying to figure out how I can max out the interest I'll earn before the year is up!

I just saw the commercial for E-trade. I may look into them. I have an ING account and love it. I think right now the interest rate is 3%. I have wells fargo for checking but will never have them for savings. I have free checking, I refuse to pay to use my own money. I had a savings account with them but they charged me $10 a month. I dropped that after one month. I'm not going to pay $10 to save my money and only get .7% back. That's just insane if you do that. If you don't want the monthly fee you have to have like 10K in your account or some weird amount. I just refuse to pay for that stuff. I want the free account. So I switched my savings to ING.

[Krimangel]

Laughs, I Was Way Off, Dont Ask Why, But In My Little Head I Just Knew This Was Going To Be A Vent About When You Go To Fast Food And Its $12.01 And You Give Them $12.05 They Keep Your Money!


Grrrr That Angers Me... But See I Was Waaaaaaayyyy Off.

Im A Dork.