Deal at a bank that doesn't charge to talk to you

The Ticker

August 27, 1999|By Julius Westheimer

WANT TO SAVE money? Working Woman magazine provides these suggestions: "Talk cheap. Example: Does your bank charge to speak to a live teller? Many banks don't -- talk to them instead.

"Keep three months' living expenses on hand, so you won't pay charges on high-rate credit cards if trouble strikes."

WALL STREET WATCH: "Don't swing for home runs," says InvesTech Mutual Fund Advisor. "Remember the primary objective is survival -- to protect your portfolio. Profits are frosting on the cake."

"Changes in demand determine the price of money. The growing demand for credit pushes interest rates higher; the Fed can do nothing about it." (Peter Dag Strategy)

"Berkshire Hathaway Inc. is tempting fans of Warren Buffett, now that its Class A shares are down 9 percent this year to $64,000, well below their March peak of $81,000." (Barron's)

MAGIC NUMBER: Responding to several readers' requests, here is an explanation of the Rule of 72. The rule says your money doubles, compounded, in the number of years your interest rate is divided into 72. Examples: At 2 percent your money takes 36 years to double (72 divided by 2.) At 4 percent, 18 years; at 8 percent, only nine years.

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