Chase sucks. Run away!

Most of you who have been watching bank rates know that savings account yields are pretty terrible right now, due to federal lending rates being so low. Lorie and I have both been pretty disappointed at the rate we have been getting on our accounts for the past year. However, the most laughable rate belongs to our friends at the worst bank ever. On its savings accounts, Chase is offering a paltry 0.01% APY. And, if you don't link it to other accounts or have a $15,000 minimum balance, you will get hit with $15 monthly fees. So, let's see....if I invest $10,000 today, I will have gained $1 in interest by this time next year, and this privilege will only have cost me $180 in fees.

As a company, it has probably the best balance sheet of the megabanks, and has yet to report a quarterly loss in all of this mess (thanks to Washington Mutual). I understand that the overnight lending rate is practically zero, so banks can loan to each other for free. I'm just a little concerned about how much longer the boys at Chase can expect their savings-account holders to be providing them with interest-free loans.

My favorite video to exercise to...

Buy buy buy!

As long as you are going to be staying somewhere for a predictable while, it is getting to the point where there is absolutely no reason not to buy a house these days. $8000 in free money, houses on the cheap, and low mortgage rates make it a buyer's market like never before.

There are possibly perks if you take out your mortgage from a bank as well. We took out our mortgage from Bank of America because it was a good program and good rate, but we also found out that having that mortgage gives us the privilege of higher savings account rates, free paper checks on demand, and a free safe deposit box rental. It all depends on whether those things matter to you, but for me it was pretty sweet...

on eating out

I feel very lucky to be living in a place that has been shielded somewhat from the effects of the recession. That being said, it is kind of hard living in a place where the streets are always crowded and the stores are always so busy. We went to Chick-Fil-A last weekend (using a free coupon from the mail, of course) and it was absolutely nuts. Nary a space in the parking lot, 20 cars in the drive-thru, and people running around, well, like headless chickens. Of course, the food was delicious. From what I read, the business is doing really well and is gaining popularity everywhere. Maybe it really is God's chicken.

Because of the crowds (partly due to the fact that Houston is huge, and also to the fact that a lot of areas were very poorly planned), we mostly eat in, even though we both work and it takes a lot of planning to pull off. I read an article about how eating out may save you money, but I think that is absolutely preposterous. Over the long run you don't save money and around here, you definitely don't save time. Just in case, though, we plan on keeping track of our prices and times for cooking at home. Empirical data may get the best of us yet.