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Old 07-27-2013, 07:41 PM
 
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When will intrest rates on savings accounts go up again? What is the point of having a savings account then?
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Old 07-27-2013, 08:07 PM
 
Location: N/A
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Quote:
Originally Posted by jman123 View Post
When will intrest rates on savings accounts go up again? What is the point of having a savings account then?
are you asking why have a savings account in general...or why have a savings account as an investment vehicle?

Traditionally, it's so you don't spend all your money at....Best Buy? Ikea? The Ford Dealership? See, it's important to save for big items that might be purchased, or in case you get laid off from your job, so you can afford all the debt you've accumulated because you thought you'd be at that income or greater FOREVER....
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Old 07-27-2013, 11:10 PM
 
Location: Vallejo
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Yes.
For future consumption.
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Old 07-28-2013, 12:58 AM
 
Location: DFW
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Short-term savings that you will need in the near future (rule of thumb: within the next 2 years)..

Otherwise, you're better off investing it.
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Old 07-28-2013, 01:23 AM
 
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I think somewhere ~ late 2014
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Old 07-28-2013, 02:46 AM
 
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you can expect inflation to go up to with those rising rates. either way after taxes and inflation you will usually lose. a savings account is where you store money you made from other investments that you are holding for spending.

it is also for holding the short term money you need to pay bills. it is not a place to grow money..
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