Bob's Links and Rants

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Monday, November 08, 2004

Making progress

Cyndy charged us with two tasks for the week: Join a credit union, and read Dave Pollard's article The Two Income Trap: Why Lenders Want you to Live Beyond Your Means. I just finished reading the article, which I highly recommend. Well, I joined the University of Michigan Credit Union almost three years ago, but I kept accounts in two online banks as well. This morning I transferred all of the money out of one of those banks to my credit union account, and I'll close that account at the end of the month (after they've paid me the interest!). The other account has an outstanding check, but I'll close it this month, too! A few tenths of a percentage point on interest aren't worth it if these banks are using my money to fund the destruction of the world, one Republican at a time.

I'd like to know if anyone is acting on these suggestions. Please e-mail me with progress reports (and let me know if you mind my sharing your e-mail on the blog).