Wow, we have a massive about of land in Texas. I will never understand these Tiny Homes.
Money & Economics
- Thread starter bigredfish
- Start date
Wow, we have a massive about of land in Texas. I will never understand these Tiny Homes.
mat200
IPCT Contributor
- Jan 17, 2017
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Sybertiger
Known around here
Credit card losses are rising at the fastest pace since the Great Financial Crisis
Goldman Sachs predicts credit card losses will continue to climb through the end of 2024 or early 2025 for most issuers.
www.cnbc.com
mat200
IPCT Contributor
- Jan 17, 2017
- 15,392
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FYI - expect diesel prices to go up for winter .. stock up if you can ..
I bought 500 gallons when it was at $2.
Took a trip in August in our motorhome. Used 644 gallons with average price of $4.06/gallon. Bummer.
mat200
IPCT Contributor
- Jan 17, 2017
- 15,392
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I actually paid $2.99 a gallon a week ago, nothing to brag about though.
I paid under $2 a gallon during Trump years...
For series-I savings bonds, the September CPI-U numbers posted today are the final component of the inflation rate for new bonds issued starting November 1, and for old bonds in their next 6-month rate period. The CPI-U over the six months up to September 2023 increased by 1.9%, meaning the new inflation component will be 3.8%. I'm guessing that the fixed rate component, currently 0.9%, will increase to about 1.6%. That would make newly purchased I-bonds pay about 5.4% for their first 6 months.
I last bought I-bonds ~2 years ago when the inflation component was over 7%, a killer deal at the time. With their 0% fixed rate component, those bonds are now earning 3.4%, which will increase to 3.8%. Not good at all, since it's all of a sudden easy to get 5+% interest. I'm going to sell those old ones and maybe use the money to purchase new I-bonds with the higher fixed rate component. Not an obvious decision as it was 2 years ago. Depends a lot on what the new fixed rate really will be, unknown until Nov 1.
I last bought I-bonds ~2 years ago when the inflation component was over 7%, a killer deal at the time. With their 0% fixed rate component, those bonds are now earning 3.4%, which will increase to 3.8%. Not good at all, since it's all of a sudden easy to get 5+% interest. I'm going to sell those old ones and maybe use the money to purchase new I-bonds with the higher fixed rate component. Not an obvious decision as it was 2 years ago. Depends a lot on what the new fixed rate really will be, unknown until Nov 1.
looney2ns
IPCT Contributor
My local credit union has had CD's paying 6%. I've got in on a couple.
I'm in the exact same situation... I can get 5% 6 month CD's as mentioned by @looney2ns so its a tougher call than 2 years ago for sure.
Treasury announced the I-bond rates for purchases starting tomorrow, Nov. 1, 2023:
5.27% (1.3% fixed + 3.97% inflation component).
I was hoping for a higher fixed rate, but it still makes sense to sell any 0% fixed rate bonds to buy these. Quick estimate is that breakeven with the early sale penalty is about 6 months, then it's all better after that. The guessing game is whether to buy a 2nd batch in January, or hope for a higher fixed rate starting next April 1.
5.27% (1.3% fixed + 3.97% inflation component).
I was hoping for a higher fixed rate, but it still makes sense to sell any 0% fixed rate bonds to buy these. Quick estimate is that breakeven with the early sale penalty is about 6 months, then it's all better after that. The guessing game is whether to buy a 2nd batch in January, or hope for a higher fixed rate starting next April 1.
I've decided to let our I-Bonds ride through May and we'll take a look then. I'll take 5.27% for now 
I'm seeing Chase cut their 5%CDs to 3%, and my little regional bank that has been paying 4.75% MM and 5% on a 6 Mo CD is going to cut that back Dec 31 to?
Banks cant afford paying 4-5%. Most of them did it to attract deposits, new money, and now its time for the Bait N Switch. There's a squeeze coming..
I'm seeing Chase cut their 5%CDs to 3%, and my little regional bank that has been paying 4.75% MM and 5% on a 6 Mo CD is going to cut that back Dec 31 to?
Banks cant afford paying 4-5%. Most of them did it to attract deposits, new money, and now its time for the Bait N Switch. There's a squeeze coming..
Endgame: Interest On US Debt Skyrockets Above $1 Trillion For The First Time Ever
Endgame: Interest On US Debt Skyrockets Above $1 Trillion For The First Time Ever | ZeroHedge
Endgame: Interest On US Debt Skyrockets Above $1 Trillion For The First Time Ever | ZeroHedge
I had 2 years' worth of the 0% fixed I-bonds that I sold today. I'll use half the funds to max out this year's purchase at the current rate, and sit on the other half to see the new rate next May, and get ~5% in a money market fund until then.I've decided to let our I-Bonds ride through May and we'll take a look then. I'll take 5.27% for now
Sybertiger
Known around here
Apparently, mom was the financial expert in the family.
My mom stole my identity and totally trashed my credit | Fortune
One in 50 American children fall victim to identity theft every year, research shows.
fortune.com
I do not understand how they can take out credit on an 11yo. Who would grant that credit? Don't the creditors look at the DOB?
Sybertiger
Known around here
7 Things the Middle Class Spends Money on That Hurts Their Chances of Being Rich
We often don't realize when we're making poor financial decisions. Many middle-class people spend mindlessly on stuff that looks impressive but only ends up draining their savings and keeping them...