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20 Minute Guide to Investing is NOW AVAILABLE! If you have any interest in learning about investing, either now or later, you must download this FREE eBook!

“I’m  lazy but generally task oriented so having a hoop to jump through means eventially I’ll make the effort.” Thomas Lynch

Face up to it! We are all lazy once in a while. It’s not a crime. Find out about my money adventure combating a bout of laziness, and what it cost me.

MAIN TOPIC: Procrastination Does Not Pay

I have been procrastinating a very important activity for a while. You would think that a personal finance professional would be on top of all of her own financial activities. True confessions, I sometimes let our family finances slip into the background. Okay, I said it!

To propel action, I stuck this personal finance task on my  to do list every day, for about two month and finally, I actually completed it!

We have a relatively large percent of cash in our portfolio due to some upcoming financial events. With interest rates so low, I avoided maximizing our return. That avoidance cost over $1,000/year for a year or two. And that is a lot of money!!


While reviewing our finances on Quicken, I realized that there is a real difference between 0.02% and 1.35% on significant sums of money. And that difference over time adds up!

Step one: Went on line to Bankrate.com to see the highest rate I could get on cash, while keeping it liquid.

Step two: Opened an on-line account at an internet bank I never heard up. I admit, I was a bit nervous using this FDIC insured unknown bank. I read some on-line reviews, including one at Consumerism Commentary LINK  and it seemed OK.

Step three: After opening the account, still a bit nervous, I read more bank reviews. Turns out several people had difficulty WITHDRAWING their money. And there were more than a few complaints at the BBB.


Back to step one! Now, I realize that in the scope of things, this is not a terrible problem, but it is a part of maintaining financial responsibility. Obsessive that I am, I returned to Bankrate.com to consider another more popular internet banks. I checked out the reviews IN ADVANCE of opening the account this time. Same story, some folks had difficulty taking their money out! What to do?

Step five: Called the 800 number of my existing bank and asked what type of rates they could offer on my cash. Of course the rate was not the high 1.35% J of the internet banks’ but the customer service representative said they had a promotional 1.1%. In order to avoid opening a “new” account at my bank, I must visit the branch and they would apply the promo rate to my existing account.

Step six: Not so easy. This promo rate was NOT AVAILABLE FOR EXISTING FUNDS, just new funds…….

What do you think I did? Stay tuned, the next post will tell you how this story turned out. In the meantime, take a look at what I’ve been reading on line this week.

Fun Reads from Across the Blogosphere:


YesIamCheap: How to Save Money on Pets (Must view for pet owners)

Kitchen Sink: Whatever Can be on Your Mind? (Business through the eyes of Mad Men)

KNS Financial: How I Feel About Money Today (Can you relate to this?)

The Millionaire Nurse: The 5 Whys and Why You Should Read This (Clever concept)

Money Reasons: My 90% Dip in the Value of One of My Stocks (This happens to every investor)

Ultimate Money Blog: How to Make Money Blogging (Who doesn’t want to know this?)

Squirrelers: Don’t be a Turkey; Career Lessons from the Allen Iverson Saga  (Smart list for excelling in LIFE.)

Beating Broke: Even a Little Movement is Better than None (Words to live by)

Out of Debt Again: Six Tips for Decorating on a Budget (Read this if you have a home or apartment)

BarbaraFriedbergPersonalFinance across the Blogoshere


  • Budgeting in the Fun Stuff: What is a Stock and Why Should I Care
  • Yakezie-Premier Personal Finance Network: BarbaraFriedbergPersonalFinance Member Post

Everypesocounts: My logo is posted here! You gotta visit this site, not only is the information useful, but the layout is terrific.

20 Minute Guide to Investing & 10 Steps to Take Before Investing are mentioned at:

Yakezie Member post- BarbaraFriedbergPersonalFinance is mentioned at:

What can the Average Joe/Jane Expect When the Dollar Fluctuates is mentioned at:

  • Maximizing Money