Bio: A classmate of mine in the creative writing program at OU, Marisa is a fabulous tapestry of wit, warmth, and supreme sarcasm woven together. She was the first person I ever told my big novel idea to, the first person I ever “spoke into being” my story idea, and when she didn’t react in disgust, I knew I could go ahead with it. You can find some of her work on the website thelostogle.com, which I highly recommend if you haven’t read it. When I graduated with my masters, Marisa was the one who tipped me off to the lightsaber flash mob happening during the ceremony, so I was able to participate with her and Jess in the single most interesting moment of that entire ceremony. (Which my family completely missed. How do you not notice cap-and-gown clad students pulling out fake lightsabers and doing battle? Vexing.)
Sixth Day Challenge: “Ben, so I’m sure a million people will tell you to do crazy things. Instead, I’ve got a financially responsible plan for you. Your task today is to set up a high yield / high interest savings account. (I’m not much into finances so I don’t know the difference.) I want you to set it to automatically deposit $5 into the savings account each month. You can keep it forever, or take a well-deserved vacation someday. Regardless, it’s always good to have a cash stash. Happy birthday!”
Initial Reaction: Oh wow. This is NOT what I was expecting from Marisa’s challenge. This is about the exact opposite from what I was picturing! Ha. That’s an awesome and absolutely unique challenge. Unlike anything else I’ve been doing. Marisa, you continue to surprise! J
Recap:
I had lunch with some friends today, and asked them for recommendations on banks with high interest savings accounts. They guffawed. That was pretty much the same reaction I got from my bank when I went in to inquire about their high yield savings accounts. “In this economy?” the bank teller asked, incredulous. She showed me a sheet of rates. “If you have $10,000 that you can put into a CD for 5 years, we can pay 2.25%,” she said, giving me an eye that probably determined, “This guy is definitely not going to have $10,000.” Which was right, so score one for the one-eye quick evaluation by tellers’ eyes.
And 2.25% is nothing stellar, but it sure beats the rate I did eventually get. A regular savings account with 0.35% interest rate. For those with less than $10,000 to deposit, there were two options: A money market account, with 0.25% interest, and a regular savings, with 0.35%. So guess which one I chose? J Why do they even have “money market accounts?” For LOSERS who don’t want to save as much, clearly.
As I’ve mentioned in previous posts, I’m a relational guy, so it was a wonderful surprise to find that I knew the banker who would be opening the savings account for me – my old roommate Seth Glenn! Ah Seth. So likeable, and yet also so very unlikeable. I used to tease him about how I’d come home from work and ask him how his day was, and he would answer me and then go about his business, never returning the interest. “Seth, I don’t ACTUALLY care about your day,” I’d say. “I’m being polite because I want you to ask me about MY day.” Which I guess makes me just as self-absorbed. He’s a ton of fun, and pretty quick-witted too. I enjoy verbal jousting with him.
Per the terms of the challenge, I told Seth I wanted to put $5 in my account and automatically drop $5 more in a month. Seth rolled his eyes and pulled out some paperwork. Apparently the days of saving every nickel and dime are over. It’s $200 up front or no dice, saver! Fortunately, I had a security deposit refund check for $300, so I put that in. With my interest rate, I should earn about $1 a year for the first 30 years. After which time, since I’ll be 60, I’ll probably take out the $30 earned in interest and go paint the hills. Or buy denture cleaner, which will probably cost $30 in 2041.
But hey, it’s a start, right? And partly because Seth now represents “the man”, I made him stay late and help me pick out my new check design. I think every bank I have ever been in for the last decade uses the same old check order catalogue. Does no one ever long for new or original check designs? Maybe I should visit the IKEA store. I bet they have some trendy checks you can order. And then assemble.
My bank is close to the gym, so I went back and did the workout today that I skipped yesterday. I never realized how much of a relief it is to walk forwards!
BD
* Journalist note – I may have exaggerated portions of this blog or any blog entry for dramatic effect. Just so you know.
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