Gov. Gavin Newsom has proposed spending $50 million this fiscal year to expand child savings account programs similar to the one San Francisco started in 2010 when he was mayor. San Francisco’s program, called Kindergarten 2 College or K2C, automatically opens an account at Citibank for children entering a San Francisco public school and seeds it with $50. The city spends about $1 million a year on the program. Families who contribute to the account and register it online can get up to $90 in one-time matching funds, provided by donors and nonprofit organizations. Adrian Perez, a fourth-grader at John Muir Elementary, has $300 to $400 in his account, said his mother Dorothy Clark. She adds money and has family put in money at Christmas. “The fact that it’s there and matched to a certain amount, that motivated me to be serious and not just wait until college to think about it,” she said. She hopes that “by the time he’s 18, he won’t have to work … [Read more...] about Newsom wants to expand programs that open a savings account for every kid
Open money market account online
Friday January 25, 2019 05:01 PM But where should you keep the money until you need it? Written by Michelle Singletary If you're able to save money in an emergency fund, you may be frustrated at the low return on your investment. But don't be. This rainy-day money is meant to be safe, accessible and ready for a storm. During a recent online discussion, certified financial planner Carolyn McClanahan joined me to answer questions from readers on where to park your emergency fund and whether you should pull out retirement money to pay off consumer debt. Here's her advice. Where should I keep emergency money? My grandmother kept her money in odd places like curtain rods. Keep the money in a money market account so you earn some interest. Money markets typically provide the highest interest with the most liquidity. I would use these over plain savings accounts (lower interest) or CD's (not as liquid). The key is that a curtain rod isn't that safe and it isn't earning any money. … [Read more...] about Color of Money: Thank goodness for that emergency fund
FILE- This June 10, 2015, file photo shows a chip credit card in Philadelphia. Banks, particularly online institutions, have been getting more competitive with the rates they are offering on savings, CDs and even checking accounts to draw more customers. That means a savvy consumer may be able to earn far beyond the norm if they are willing to shop around. (AP Photo/Matt Rourke, File) FILE- This June 10, 2015, file photo shows... Photo by Contributed Photo /Times Free Press. Savers rejoice — you can finally earn a little more on the money you've been setting aside. To draw in customers, banks — particularly online institutions — have been getting more competitive with the rates they are offering on savings, CDs and even checking accounts. That means a savvy consumer may be able to earn far beyond the norm if they are willing to shop around. Take the humble savings account: The average interest rate in the U.S. is 0.09 percent, according to the FDIC. And that is … [Read more...] about Savers: Shop around, and you may finally make some money
Q. I'm looking for a high interest money market savings account. Suggestions? -- Searching A. Even though we've seen the Federal Reserve raise interest rates, investors aren't seeing much of a return on bank accounts. Not at all. And you probably won't see any big money interest rate offers any time soon for savings or money market accounts. "Basically in all these types of accounts, you are guaranteed to lose money on an after-tax, after-inflation basis, so really the rate is not that important," said Jerry Lynch, a certified financial planner with JFL Total Wealth Management in Boonton. "The goal of this account should be as a safety fund or if you need the money within the next few years." Lynch recommends you go to BankRate.com, which can tell you where to find some of the higher money market account rate offers, plus offers for Certificates of Deposit. "These are still guaranteed to lose money on an after-tax, after-inflation basis," Lynch … [Read more...] about Finding a high interest savings account
Sections SEARCH Skip to content Skip to site index New York Subscribe Log In Subscribe Log In Today's Paper Advertisement Supported by ByJohn Leland, Mariana Alfaro and Aaron Robertson Aug. 7, 2018 Tionna Smalls does not remember when tensions between black residents and Korean-American merchants rocked her Brooklyn neighborhood decades ago. But when she saw a video of Asian nail salon workers attacking African-American customers last week, she said she knew exactly what she was seeing. “I’m tired of the disrespect in the black community,” said Ms. Smalls, 33, a former star of the VH1 reality show “What Chilli Wants.” The video of the melee went viral. Ms. Smalls took to Twitter to call for protests. People from around the country flooded the website Yelp to denounce the salon, calling its workers racist, often in incendiary language. Within hours of Ms. Smalls’s tweet, an angry crowd of several … [Read more...] about A Nail Salon Brawl Opened a Racial Rift Online. In Brooklyn, the Mood Is Calmer.