Thursday, August 20, 2009

My Secret Obsession


So, I found out today that I have a fairly unusual amount of knowledge about interest rates for a girl of only 23. I once transfered some money I had in an MMA to a CD because the APR for the second one was so much better. I was reading the paper in the break room, and I commented on the APY of a bank. I said it was sucky, at only 1.01 for balances under 10k and 2.00 for balances over 10k to 500k. I got bewildered looks from the two other employees that were sitting there. One was a girl and one was a boy, so it can't be based on gender knowledge of money. Judging from the fact that they were looking at me like I just started speaking in Mandarin, I clarified that that was only 1 cent and 2 cents for every dollar you have in your account. One of them fessed up to not knowing anything about "any of that stuff." When I think about it, I am pretty obsessed with saving money. Not in the sense that I'm cheap and won't spend it, but that I try to save as much as possible in an interest bearing account. I also have a cousin on my dad's side that does the same thing so maybe it's genetic.

Now, maybe I am weird, I'll be the first to admit that, but damn it's money! How can you not take an active interest in the best way to make your money work for you? I'm horrible at math, but the few, and I do mean few, principles that I was able to retain involved percentages. I'm pretty good at figuring out returns and interest rates, and I can do sale prices in my head fairly quickly. I know I'm in an age group where money isn't really a huge concern because we don't have it, but really people! I think that's really a huge problem with our society in general is that we place too much on the act of spending as a status symbol, and not the ability to save. Yeah, you may have a $500 handbag, but my $500 in the bank is making money.

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