Coin Collectors Info

Savings accounts these days are really a problem for people adverse to risk and needing liquidity. The rates are so low, they are not keeping pace with the minimal inflation we currently have. Inflation is probably not going to stay low either. On the other hand, there is no sign that savings account rates are going to increase anytime soon.

 

What are some good solutions to a regular bank savings account?

 

One thought is that you can do better if you simply become a smarter consumer. By searching and buying the necessities of life when prices are low or when you can buy in quantity, the savings can add up quick. A 10% discount sure beats a 1.5% interest rate. To enhance this effect, learning to use coupons on a regular basis will also be time well spent.

 

With the Internet availability, there is hardly any major or minor purchase that there isn't probably a coupon, promo code or other form of savings available for. All it takes is being willing to spend a little time on your favorite search engine.

 

In the same vein, using the Internet to shop prices among competitors is a great idea. Often the virtual companies without the overhead of brick and mortar businesses can truly offer great savings. And, if you want to deal with a local merchant it never hurts to print off the online offer and bargain with the local business. The brick and mortar people certainly want to keep your business if at all possible.

 

As for savings safely, there are some good alternatives to that as well. Buying gold or silver is a very smart move right now. The returns are impressive, the safety great and the liquidity available. Plus you do not need to buy collector type gold coins to benefit from this. In fact, to insure the liquidity it is better to stick with the readily available forms of these precious metals.

 

If you are pumping money into savings accounts, you really should re-think this strategy. There are plenty of good alternatives around if you just think a little broader.

 

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One Response

1. compare bank accounts on April 20, 2012:
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