In the intervening months, Provident Bank, like many others, struggled in the new economic order. As a result, it was acquired by M&T Bank. Needless to say, I’m interested to see what will happen post-merger, but right now, things are still the same.

M&T’s e-Money Market Account

One of the things that does interest me the most is M&T’s e-Money Market Account. M&T e-Money Market, offered by M&T Online Banking is the newest in a line of high-yield online accounts. FHWWers should now be conditioned to look to make money while they sleep. To work for 4 hours a week requires not having to expend energy and effort to make money, and certainly interest-bearing accounts are key to making that a reality.  What makes an online money market account valuable vs. a CD or bond that also makes money while you sleep is that money markets are fluid — your money is not tied up for a specific length of time, giving you convenient access to your funds.

The usual trade-off, however, is interest rates. As of the date of this post, M&T is offering 1.75% on their regular money-market account. I remember when I was getting 6.5% on MM savings, but sigh, those days are long gone. I hope to see them again soon!

Which online savings accounts are you using? Which would you recommend? Which are suitable for business accounts (versus personal)? Let me know!

In pursuing my muse, I have become somewhat dependent on credit card debt. I think even Tim mentions aggressive use of credit cards to finance his muse business. The current economic climate is making it harder for folks like us. More importantly, one of Tim’s techniques is to transfer balances from one credit card to another, using the 0% APR balance transfer techniques. Well, thanks to new credit card regulations and credit legislation issued by the Federal Reserve, it may be harder to get a 0% APR balance transfer.

One of the tools I have been recently using is SmartBalanceTransfers.com, which allows you to compare a wide selection of 0 balance transfer and no fee balance transfer credit card offers from leading banks and use our balance transfer calculator and articles to help you save the most money possible when you transfer a balance online.

The site is prouced by a company called Credit Card Depot Inc, which claims to have helped tens of thousands of consumers find new credit cards online. The SmartBalanceTransfers.com site is designed to provide folks like us targeted information necessary to maximize the savings that can be reaped with a balance transfer credit card.

If you’re using a credit card to fund a muse, like I am, I think this will be worth a visit.

Personal Loans from ThinkCash

Here’s a resource that might help: ThinkCash. ThinkCash is a short term, personal loan company which lends amounts from $250 to $2,500 for emergency times like when the bills have to be paid or to avoid a bounced check. ThinkCash is different than a Payday Loan or Cash Advance Company in a number of different ways:

• ThinkCash rates are typically 25 – 75% lower than payday loans.
• Unlike Payday loans, ThinkCash loans loans can be paid in several installments – or pay off completely at any time – with no penalties.
• At ThinkCash, the application can be filled out online and the money wired by the next business day.

While this solution might not be for everyone, in an environment where credit is getting harder to come by, you need as many tools in your belt (yes, the one that you’re tightening). This provides another option for you. If you’ve had any experience with ThinkCash or have experiences to share with this or other offerings, let me know!