The average savings, of those who have any has dropped more than 50% due to the dilution with more paper.
Currently, the next best place is paying down debt, saves on the interest charged, but it is not sexy, and with minimal risk, far less volatility, and possible profits, for those who like the risk.
Bingo. A recipe for a big fat bubble.
I’ve converted my bill payment process. I’m running all purchases through my cash back card and I’m getting some great returns on my $1000 per month I run through there.
I’ve got a project I’m running through there, and I may make about 50% interest this year on that $1000.
The thousand is money I took from checking and savings, and simply replaces everything I was paying from my checking account.
I’ll get anywhere fro $300 to $500 dollars from cash back, dumping my month’s bill money in just before the cycle date lowing the interest charged, and also taking advantage of special offers that I would have spent anyway.
For instance, I paid Hulu one month, and got it free for a perk the card company was offering.
Beats leaving the money in check and savings where I gain no interest at all.