Where, where can I save that keeps up with inflation. Nothing makes a profit.
Fri, 10/29/2010 - 12:41
I don't know what the current inflation rate is. The news medium no longer announce those numbers. But from the way prices are rising at the supermarket, I am sure it is greater than the .35% my bank offers as interest on deposit. I have purchased a chest freezer and putting my spare cash in meat.
Interest will never beat inflation
The current inflation rate is 3.16% (why wait for the news to feed you info when you have the internet?) and you will never find a savings account interest rate that is higher than the inflation rate. The only way you'll beat inflation in your savings is if you invest wisely. Meat, while yummy, will not pay dividends. I recommend some stocks or mutual funds instead. That said, the best interest rates I've found are online also.
savings
capital one's savings plus account is 1.25% (with a quarterly 10% bonus if you also use a capital one credit card)
I just moved all my money out of my bank of america savings account