About Me

scfr

Cool Quote: "The roosters may crow, but the hens deliver." (Ann Richards)
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Fun things to do before we leave Austin:
- Lunch at The Salt Lick (BBQ)
- Sunday Brunch at Fonda San Miguel (Mexican)
- Austin City Limits (try to score tickets)
- Bat Flight at Congress Ave Bridge
- Hike & Bike Trail (Town Lake)
- Cavern Tour: DONE!
- San Antonio (Alamo, Riverwalk)
- Houston (NASA)
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BA (Balance Sheet Affluent, as explained in "The Millionaire Mind"):

Age x .112 x Total Annual Realized Income = Expected Net Worth

If you are 2 times your expected net worth, you are "Balance Sheet Affluent"

My goal is for my household to be a bit over BA (have 2.12 times its expected net worth) by the time my DH is 50.

Starting Number (4/30/07) = 1.32 times expected net worth

First Year Quarterly Goals:
7/31/07 = 1.440 [Result: 1.510]
10/31/07 = 1.435 [Result: 1.569]
1/31/08 = 1.430 [Result: 1.541]
4/30/08 = 1.425 [Result: 1.400]

Second Year Quarterly Goals:
7/31/08 = 1.550 [Result = 1.515]
10/31/08 = 1.550
1/31/09 = 1.545
4/30/09 = 1.530

Tip of the Day: Walk in to a New Bank Branch

January 3rd, 2008 at 04:50 pm

Here's my unsolicited tip of the day ... Get off of your computer, get out of your car, and physically walk in to one of those new bank branches that are sprouting like weeds. Ask them if they have any special promotions. New branches may have promotions to attract new customers that you won't find out about unless you ask. I did that yesterday.

I was able to open an MMA with an APY of 4.75% that is locked in for 180 days. I really like the "locked in" part given the direction that interest rates have been going. The new branch was offering this higher rate and the lock but other branches of the same bank weren't.

I also opened a free checking account with $100; it doesn't pay any interest but I'm getting a free $75 Visa Gift Card.

Posted in Uncategorized | 7 Comments »

7 Responses to “Tip of the Day: Walk in to a New Bank Branch”

disneysteve Says:
January 3rd, 2008 at 04:58 pm

Great tip. I especially like the $75 bonus. How long do you have to maintain the account?

I may just have to start checking out these new branches I keep complaining about.
scfr Says:
January 3rd, 2008 at 05:15 pm

Good question - We have to keep the checking account open for 6 months to avoid an early-closing penalty. The date we can close it is written on my calendar!
sounderella Says:
January 3rd, 2008 at 05:15 pm

Which bank was this?
Joan.of.the.Arch Says:
January 3rd, 2008 at 06:08 pm

Were you already a customer at this bank, just a different branch? Or was this a completely new customer promotion?
scfr Says:
January 3rd, 2008 at 06:25 pm

I was a completely new customer for that bank, which in this case was Wachovia. I did a quick internet search, and it seems Wachovia is keen on these promos when they open a new branch, but I'd suggest you ask at any new branch in your area ... It never hurts to ask!
denisentexas Says:
January 4th, 2008 at 07:41 am

I'd love to find a bank that offers a $75 gift card for opening a new account. We're about to open one, just a checking account, but the credit union we went to yesterday has ridiculous fees for every little thing they do that we more than likely won't open it there. So, we're in the market for a new bank! Thanks for the tip - I'll look around.
disneysteve Says:
January 5th, 2008 at 05:45 pm

I mentioned this entry to my cousin today. He is a bank officer. He said his bank does this. They recently opened a new branch and offered some special deals at that branch and they were running another round of offers this month, so it sounds like a fairly common practice. Good to know.

scfr's Personal Finance Blog

Tip of the Day: Walk in to a New Bank Branch

7 Responses to “Tip of the Day: Walk in to a New Bank Branch”

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