Penny Lane

I ran into an old friend the other day. Knew him in high school; he's now a banker. Naturally, the conversation went the route of me asking him how to make my money work for me. I was surprised to find out how banks have now jacked up interest rates on most of their high-yield savings accounts. I had the common notion that savings accounts typically offered only 1% interest, but it turns out some banks now offer rates upwards of 4-5%! My buddy recommended that I check out SavingsAccounts.com. The site is basically a listing of premium banks, the products they offer, and their posted interest rates. It's nothing fancy; you don't get a ton of numbers thrown at you--just those that count. There are also some basic financial planning tips. Again, nothing too complicated. Just sound advice for us average, money-saving folks.