Virtual Stock and Options Trading

Do you have a virtual stock and/or options trading account? I recently opened up a Virtual Trading account at OptionsXpress for the sole purpose of practice trading. It is a way to test out trading ideas without risking any real money. When you sign up, they put $25,000 of "play" money in your virtual trading account. Virtual trading lets you use the optionsXpress (by Charles Schwab) platform to screen stocks and options. You can then go through the motions of using the trading tools and resources to execute practice trades. This is a way to test trading strategies on stocks, options, and futures without risking any real money.

My biggest complaint so far is the sign up process. They claim that it only takes 5 minutes, but it seemed to take longer than that. You will be asked for all the personal information that you would need to open a real trading account. You are not required to provide a checking account or credit card, and you are not required to fund your account (with real money) at all. You also have to provide your social security number, so I can understand if people think it is not worthwhile. But if you're willing to go through this process, you will have access to the exact same platform as a real OptionsXpress account.

For the record, I also have an OptionsHouse account (different company) that I keep around for the purpose of virtual trading. My real OptionsHouse has a balance of $0.01. OptionsHouse starts you with $5,000 of virtual "play" money.

If you decide to open a real brokerage account, consider taking advantage of one of these great offers:

Open up a new optionsXpress account and get $100
Sign Up for an OptionsXpress Account and Choose Your Free Investment Book
Get a FREE Xbox 360 when you open and fund a new OptionsHouse account

DC

Best Buy Black Friday Preview

Like Walmart, Best Buy just released their Black Friday Doorbusters Preview on the BestBuy.com website. It seems like Black Friday now actually starts at 6pm on Thursday, 11/28. I quickly glanced through the advertisement, and noted a few interesting deals:

• LG 55-inch 1080p 120Hz LED HDTV for $499.99
• Apple iPad 2 16GB WiFi Tablet for $299.99
• Amazon Kindle Fire HD 7-inch 16GB for $99.99
• Insignia 24-inch LED (1080p) HDTV for $79.99
• Sony Smart Wi-Fi Blu-ray Player for $54.99
• Google Chromecast HDMI for $29.99
• LG G2 for $49.99
• Samsung Galaxy S4 for FREE
• Microsoft Surface RT 32GB for $199.99
• D2 Android Tablet 4GB for $39.99 (online only)

Did you see any deals you like?



PFS

Walmart Black Friday Ad

Walmart has just released their 2013 Black Friday Ad Circular on the Walmart.com website. While Black Friday is traditionally November 29th, Wal-Mart will be opening at 6pm on Thursday, 11/28. I quickly glanced through the advertisement, and noted a few intriguing deals:

• Apple iPad mini Wi-Fi 16GB for $299 (Bonus free $100 gift card)
• Funai 32-inch LED HDTV for $98
• LG Blu-ray Player for $38
• Furby Boom for $29
• Straight Talk Galaxy Centura for $29
• RCA 7" Dual Core Tablet computer for $49
• Call of Duty Ghosts for $39.96
• Xbox 360 4GB Console for $99
• Xbox One System for $499

Did you see any deals you like?



Free Walmart Gift Card

PFS

The Pros and Cons of Taking a Lump-Sum Payout after Winning the Lottery

After winning the lottery, you will often be presented with two options of how to receive your winnings. You can either claim your winnings in one, lump-sum payout, or as a structured settlement, receiving the payments over a set period of time. There are pros and cons to both options, so make sure you explore each and know which is best for you.

Lump-Sum Payout
A lump-sum payout is a one-time payment of a partial or total value of an asset. In the case of lottery winnings, this option would give you one immediate payment of your total lottery winnings, after taxes have been taken out. For some, this is an attractive choice, but it also has some disadvantages. Here are the pros and cons of taking your lottery winnings as a lump-sum payout:

PROS	CONS
·        You get more money upfront, immediately. ·        You can invest your winnings. ·        You can spend however little or however much you want to at any time	·        Easier to spend all of your money quickly and unwisely. ·        May become a target for friends, family, charities, media and anyone else looking to get some extra cash. ·        You will pay more taxes than if your winnings were taken as a structured settlement. ·        You must pay taxes, immediately, on the entire amount of your winnings.

Structured Settlement Payments
A structured settlement is a legal settlement paid out as an annuity rather than in a lump sum. It is often used to settle wrongful death or personal injury lawsuits, but it can also be used in the event that you win the lottery. Here are the advantages and disadvantages of receiving your lottery winnings as a structured settlement:

PROS

CONS

·        Payment schedules are flexible. You can schedule payments for almost any length of time, beginning immediately or in the future. ·        Guaranteed income. ·        It provides beneficiary protection. In the event of the recipient's premature death, the contract's beneficiaries can continue to receive future payments. ·        You can sell your annuity in the future, if you decide you need more money at a given time than what your regular disbursements provide. ·        You can withdraw from an annuity early, but some fees may apply. ·        You are only taxed as you receive each payment.

·        Once the recipient agrees to the terms and conditions, they are stuck with them. Terms and conditions cannot be changed. ·        Since the funds inside an annuity account may not be accessible, they are not available for purchasing other types of investments.

One of the most important decisions you can make after winning the lottery is deciding how the money will be given to you. Make sure you understand the advantages and disadvantages of taking a lump-sum payment or a structured settlement before making any final decisions. You could be dealing with a lot of money, and it is important to take care of it.

About the Guest Author
Kaitlyn Fusco is a content writer for Annuity.org. She combines her interests in writing and overcoming debt to inform the public about issues related to credit, debt, annuity and personal finance.

Lock in $3.95 Stock Commissions

OptionsHouse just sent me an Email saying that they are raising their commissions for stock trades from $3.95 to $4.75 after October 1, 2013. However, existing customers and people who open a new account by 10/1/13 will still receive the old commission rate of $3.95 indefinitely. Unless you have a special deal with a broker, stock commissions don't get any better than at OptionsHouse.com.

So, if you are interested in locking this $3.95 rate, I would advise opening up an OptionsHouse account now before the price increase takes effect. You can also take advantage of their FREE Google Nexus Tablet or Free Kindle Fire HD offer.

As a favor, if you are not planning to take advantage of one of the OptionsHouse special offers, but still want to open an account, I would ask that you Email me (at the Email address in the sidebar). I have an OptionsHouse account, and they offer a commission to customers who refer new customers. Thanks!

PFS

Money Market Rates 8/13

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

0.85% American Express High Yield Savings
0.85% FNBO Direct Online Savings
0.84% Ally Bank Online Savings
0.80% Discover Bank Online Savings
0.75% Capital One 360 Savings (formerly ING Direct)
0.20% Western FCU Money Market
0.10% Chase Plus Savings
0.10% Citibank Savings Plus

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 8/18/13. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included a few credit unions in the list so that readers have a comparison point with banks. Ally Bank Online Savings has dropped a couple of notches from the top position on this list. Also, ING Direct has been replaced by Capital One 360.

The frequent changes show how changeable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

DC

Is Your Financial Information Safer Online Today Compared to 5 Years Ago?

There exist countless possibilities of loss of financial information during online transactions. With the internet the methods used to compromise data is ever changing. What identity thieves target when carrying out attacks aimed at collecting people’s confidential financial information, are internet systems that are widely being used. These usually include popular shopping carts, outdated coding schemes and database programs.

In order to address these security concerns, internet based systems that are especially meant to process confidential financial information should be designed with security being addressed from the initial design stages. Below is a list of some of the old infamous internet breaches that have been instrumental to the current security state of the internet.

List of old internet practices
Robert T. Morris develops the Internet worm in 1988
TCP spoofing attacks
The Melissa worm (very problematic to email systems)
VBScript worm like the "ILOVEYOU"
Flash worms (SQL Slammer worm)

Today’s tools/resources that make the internet safer to use compared to 5-10 years ago.
Some of the popular avenues being used by hackers and fraudsters to access privileged financial information are through: a web server, the link between a computer and the Merchant site and the consumer’s computer.

• Firewall systems designed for private network systems to stop unauthorized access to this system
• Data encryption, involves converting of data into a more secure form to prevent it from being accessed. This is fast becoming one of the most popular way to protective sensitive information
• Network Access Control, designed to keep hackers and malware out of a network.
• Password management systems meant to keep people restricted access only to information that is relevant to their role.
• Use of protected information Discovery Tools that are used to scan through computers to locating information that could facilitate identity theft, such information could either be credit cards, bank accounts, social security number or even driver’s license. This tool is used to seek out such sensitive information so that appropriate action can be taken to safeguard such information.
• Secure wireless networks providing the benefits of such a network without the security lapses such a network usually causes.
• Virtual private networks which are known to provide secured channels of communication even when a person is off the premises. This is enabled through use of a secured interface.
• Various virus protection tools installed on computers to prevent attacks by spyware and malware software
• Periodic vulnerability scans on computers to carry out risk assessment about information management loopholes that might exist.

The internet is filled with stories of how ordinary people have had their personal information accessed without their consent leading to fraudulent transactions being conducted in their names or worse still having their finances being accessed by fraudsters. Internet users are advised to be security cautious when submitting confidential information.

Even though the internet presents challenges in areas of financial information management. It is much safer today than it was 5-10 years to conduct business transactions over the internet. Due to increased internet security measures being applied, online transactions are increasingly gaining popularity especially among the younger generations.

Author Bio:
Blair Thomas is an online electronic payment expert, who loves all things finance and planning. He is also the co-founder of eMerchantBroker.com, the #1 High Risk processing company in the country.& If you would like to see what he's up to, add him to your Google+ circle.

Photo Credit: https://sites.google.com/a/jeffcoschools.us/jeffco-internet-safety-resources/

Money Market Rates 6/13

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

0.85% American Express High Yield Savings
0.85% FNBO Direct Online Savings
0.84% Ally Bank Online Savings
0.80% Discover Bank Online Savings
0.75% Capital One 360 Savings (formerly ING Direct)
0.20% Western FCU Money Market
0.10% Chase Plus Savings
0.10% Citibank Savings Plus

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates.

Rates are believed to be accurate as of 6/13/13. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included a few credit unions in the list so that readers have a comparison point with banks.

It seems Urban Partnership Bank no longer allows you to apply for a new Online Savings account.  So, I have dropped it from the list. Ally Bank Online Savings has dropped a couple of notches from the top position on this list. Also, ING Direct has been replaced by Capital One 360.

The frequent changes show how changeable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

DC

Helicopter Money - Doing the Drop on Currency

Would you like to own a 100 trillion dollar bill at a cost of 1.5 U.S. dollars? However, the dollar bill is not issued by the central bank of a world reserve currency but by the Reserve Bank of Zimbabwe. When the government of Zimbabwe overspent on wars and employees’ salaries and swindled public money’s through corruption in the 2000s, the government decided to finance the deficit spending by printing new Zimbabwean dollars with expiration dates on the bills. The money velocity skyrocketed, leading to hyperinflation of more than 500 billion percent in 2008 and a complete loss in confidence of the currency’s future value. The helicopter money experience ended horribly as the Zimbabwean government abandoned its own currency and now uses foreign currencies with mostly the U.S. dollars.

What is helicopter money?
Helicopter money is a term used by the Monetarist economist Milton Friedman who advocated that price deflation can be saved by money falling out of a helicopter. It means that the government, not the central bank, sends free cash or cheques to its taxpayers in the hope that the inflation and money supply will rise, and the receivers will simply spend the money to increase the aggregate demand. Helicopter money is called for when the economy suffers a great contraction and deflation and is in a liquidity trap where monetary policy becomes impotent. Helicopter money is a fiscal policy and not a monetary policy tool. If there is a concern that funding the helicopter money spending through bond issuance will jack up interest rates, then the central bank can fund the deficits by holding the bonds in its own balance sheet and crediting the government’s account.

How is helicopter money different from quantitative easing?
Currently, quantitative easing (QE) has been widely used for monetary stimulus by global central banks. QE is the creation of money by the central banks to buy government bonds by creating excessive bank reserves in the banking system. However QE, unlike helicopter money, does not go directly to the pockets of the consumers and households but to the banking system that the central bank buys bonds from. If the banks decide not to lend out these excess reserves due to the fear of defaults and other reasons, the aggregate demand will not increase and the private economy remains stuck. QE is reversible while helicopter money is not. In the words of Financial Times’ Martin Wolf, helicopter money combines fiscal stimulus with monetary expansion.

Helicopter money and currency trend
Given the goal of the helicopter money is to resurrect deflation and drive up inflation, an economic consequence will be currency deprecation as inflation rises. If the helicopter is unloading too much money too quickly, hyperinflation will result, leading to massive damages in the economy and currency devaluations. To help its exports grow faster, every economy in the world currently would like to see its currency weaken. Therefore one country’s monetary easing policy leads to a competitive response by another country with the result of competitive devaluations. As one currency depreciates, another is forced to rise - the Japanese Yen during the 2008 financial crisis and the Euro/Dollar earlier this year, which will hinder the economic recovery.

Navigating using an online system
Helicopter money and quantitative easing are some of the macro themes that can have a tremendous impact on currency trends and developments and therefore your bottom line in currency trading. Forex traders should do enough homework to understand the macroeconomic policies and politics that influence the currency directions both in the short-term and the long-run. Using forex online trading that comes with free market insights, educational tools, a free demo account and charting resources is the best way for you to gain valuable knowledge of the forex market before dipping into the currency pairs with real capital.

Money Market Rates 4/13

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

0.85% American Express High Yield Savings
0.85% FNBO Direct Online Savings
0.84% Ally Bank Online Savings
0.80% Discover Bank Online Savings
0.75% Capital One 360 Savings (formerly ING Direct)
0.65% Urban Partnership Bank Online Savings
0.20% Western FCU Money Market
0.10% Chase Plus Savings
0.10% Citibank Savings Plus

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates.

Rates are believed to be accurate as of 4/15/13. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included a few credit unions in the list so that readers have a comparison point with banks.

It seems the Ally Bank Online Savings has dropped a couple of notches from the top position on this list. Also, ING Direct has been replaced by Capital One 360.

The frequent changes show how changeable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

DC

Money Market Rates 3/13

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

0.85% American Express High Yield Savings
0.85% FNBO Direct Online Savings
0.84% Ally Bank Online Savings
0.80% Discover Bank Online Savings
0.75% Capital One 360 Savings (formerly ING Direct)
0.70% Urban Partnership Bank Online Savings
0.20% Western FCU Money Market
0.10% Chase Plus Savings
0.10% Citibank Savings Plus

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates.

Rates are believed to be accurate as of 3/11/13. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included a few credit unions in the list so that readers have a comparison point with banks.

It seems the Ally Bank Online Savings has dropped a couple of notches from the top position on this list. Also, ING Direct has been replaced by Capital One 360.

The frequent changes show how changeable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

DC

Sponsor a Child: What to Expect

Most people give to charity one way or another. Some give up their time to help good causes, many routinely carry out acts of spontaneous charity for strangers, and most give money. And there’s a significant sector of charitable giving that opts for something very individual, involving and personal: sponsoring a child.

Sponsoring a child in need has been a part of the charity landscape for generations; the first scheme was inspired by the plight of children orphaned during the Spanish civil war of the 1930s. Since then, sponsoring a child has become a significant contributor, accounting for around US $3 billion annually channelled into changing lives.

At one level, sponsoring a child is like many other commitments to a charity: a monthly or annual payment goes from the donor’s account to the charity. There, the similarities end. This is a long-term commitment, usually lasting between ten and fifteen years, when the child is old enough to be independent. It’s worth considering this carefully before signing up.

Child sponsorships schemes vary and many are community-wide, which means the sponsored child and the community all benefit. The donor knows who the sponsored child is, where he lives and the challenges he and his community are facing, which helps to give context and a more complete picture of the child’s environment.

The sponsor and the child are in contact with one another, exchanging letters and photos and, in some cases, e-mails. Some schemes allow donors to send gifts, while other charities actively discourage this.

The sponsorship money is used in a variety of ways. Educating and raising the aspirations of the child is at the top of the list of priorities, as is his health and future opportunities. Some is invested in improving infrastructure, such as sanitation and agriculture, all of which ultimately benefit everyone in the community. Larger charities invest in the future of the community with training programmes, advocacy and economic development.

All donors receive regular updates on the child’s progress from the charity. This takes the form of school and health reports, news of events and developments in his community, and updates on the work of the charity.

A child will only have one sponsor, and it often happens that close bonds are formed between the sponsor and the child over many years, building a relationship and a real sense of connection and attachment. There are also some cases where the child’s expectations can be higher than the sponsor realises, so many charities advise sponsors to be aware of this.

Many happy and successful outcomes emerge from child sponsorships. Sponsoring a child takes commitment, and it’s as well to be prepared for more of an emotional rollercoaster than donating money to good causes in general. As in any relationship, there are rewards and pitfalls, but a good scheme is one that is run by well-trained professionals who will be happy to answer questions.

Charity is rarely out of the news, and it can be hard to see the human story behind the column inches and statistics that only tell a fraction of the story. This is charity with a human face, a name, and a life. Sponsoring a child is an opportunity to be a part of it.

Resources

• http://www.plan-uk.org/about-us/our-history/
• http://www.bbc.co.uk/news/world-13697855
• http://www.worldvision.com.au/OurWork/Solutions/SponsorAChild/FAQsChildSponsorship.aspx

About the Guest Author
Stacey is a freelance writer and is passionate about her family, two dogs, giving back to the community through volunteering for different charities and also about making a difference to young people's lives.

Ditch Your Rewards Credit Cards and Save Money

Choosing a rewards credit card can seem like a great idea when you sign up. After all, who doesn't want free stuff?

The problem is, a lot of the time it’s not free – and unless you are a BIG spender, or you are super-smart about using your credit card, you could be spending more on your credit card than you are getting back in rewards.

So, how do you know when you should keep your rewards card and when you should ditch it for something smarter?

Annual Fees
The first thing to look at on your credit card is the amount you are paying in annual fees. As friendly as credit card providers may appear, they are not here to be your friend, they are here to make money. This means they generally won’t give away free stuff.

Look at how much you are paying in annual fees and compare it to how much you are getting back in rewards. In order to make their money back on the rewards they give out, many card companies charge more in annual fees.

You have to make sure you get your money’s worth. This can sometimes be achieved by using your card for all your purchases – more spending means more rewards. Just be sure to pay off the balance in full each month, or you will lose out in interest payments.

Or, choose a rewards credit card that charges no annual fee. Not always easy to find, but they are there.

Interest
Similarly, card providers can charge more in interest on rewards cards than regular credit cards. If you carry a balance on your card each month, then you are probably paying out more in interest than you are getting back in rewards.

To avoid this, either pay your bill in full each month, or choose a rewards card with low-low-interest.

Rewards
As odd as it sounds, some people choose rewards credit cards and don’t know much about the rewards program. They like the idea of having a rewards card, but don’t actually need any of the rewards. If you are set on having a rewards card, make sure it offers rewards you will use. Or, if you don’t need rewards at all, choose a cheaper standard credit card and save yourself some money.

Expired Points
Some card providers have expiry dates on their rewards points. This would mean your reward points get deleted if you don’t redeem them within a certain time period. If you spend small on your credit card, then it probably means you earn points slowly. However, this may mean your points will expire before you ever get a chance to use them.

Ditch or Keep?

• If you are getting more back than you are paying on annual fees and interest: Keep.
• If you are paying out more than you get back: Ditch.
• If you are not getting the rewards you want: Ditch (or Switch to another card with a better rewards program).
• If you are losing your points before you can use them: Ditch.

Australian Charities and Organisations That Assist the Unemployed

[Editor's Note: The following guest post was provided by Richard from Simple Living Australia, a personal finance and lifestyle blog which helps readers make informed financial decisions.]

There are times in our lives due to the economic downturn where a little assistance can go a long way. When unemployment or an illness has taken away the primary income in the family; outside help may be required. Fortunately, there are many charitable organisations in Australia can help you out. Non-profit organisations and charities may not be what immediately come to mind when you need a hand, but they can really make a difference.

Major charities have annual revenues that can easily exceed $100 million, and a lot of them get support from churches, wealthy individuals, and other major enterprises that want to help the deprived. There are even certain specialist lenders that provide emergency unemployment loans. Let’s take a closer look at some the most significant Australian charities that want to assist the unemployed and have managed to really make a difference over the years.

Fitted for Work
Fitted for Work is an organisation aimed at women who are unemployed, who want to obtain a job, and ultimately manage to attain financial independence.  They sponsor professional dress and mock interviews.  They also have a transition to work program.  Read their success stories, they will inspire you.

Job Support
Jobsupport has been helping people with disabilities to get a job for nearly 20 years now. The organisation is one of the most important in Sydney, and they’re constantly struggling to make society understand that handicapped people have the right to work and add their share of contributions to the state.

Boys Town
BoysTown is an organisation that helps young people, children, and families overcome severe disadvantages such as long-term unemployment, abuse, mental illness, and homelessness. The charity is fully committed to enabling and inspiring people reach their potential and overcome financial difficulties. Some of the main services include crisis care, employment, counseling, parenting, social development, education, life skills, and more.

Dress for Success
Dress for Success is an organisation that appeals to women who haven’t worked in years. The main goal of the charity is to help the ladies re-enter the workforce. They want to make a difference, and therefore they’re trying to help women through various means that they can make it on this economy even if they lack experience.

The charitable sector in Australia is extremely large. Thankfully, they offer a plethora of services and products delivered by non-profit organisations and charities. There are nearly 60,000 non-profit organisations currently active in Australia. Most of them are focused on specific communities and they operate locally. However, some of them are so expansive; they are able to help a huge number of unemployed Australian citizens. Notable organisations such as the Salvation Army, the Australian Red Cross, and the Sydney City Mission have hundreds of volunteers and paid workers. Like the charities listed previously, the unemployed are in good hands when they use the services of these organisations.

Even though times are tough; there are many charitable organisations that are available to help you. Put your pride aside and let them help to plant your feet on solid ground. Who knows, some day you may be able to pay it forward and help someone else or at least point them to one of these amazing organisations.

About the Guest Post:
The opinion expressed is that of the guest author. If you are interested in writing a guest post, please contact PF Stock at the Email address listed in the sidebar.

Money Market Rates 1/13

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

0.95% Ally Bank Online Savings
0.90% American Express High Yield Savings
0.85% FNBO Direct Online Savings
0.80% Discover Bank Online Savings
0.75% ING Direct Orange Savings
0.65% Urban Partnership Bank Online Savings
0.30% HSBC Advance Online Savings
0.20% Western FCU Money Market
0.10% Chase Plus Savings
0.10% Citibank Savings Plus

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates.

Rates are believed to be accurate as of 1/3/13. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included a few credit unions in the list so that readers have a comparison point with banks.

It seems the Ally Bank Online Savings is still at the top position on this list while increasing their interest rate to 0.95%.

The frequent changes show how changeable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

DC