Spare Change
Rate Watch
Looking for the best interest rate on a certificate of deposit, savings or money market account? You’re more likely to get it online than from your neighborhood bank. Still, a good number of consumers prefer a brick-and-mortar bank branch, driven perhaps by a lack of comfort with computers and jitters about identity theft.
Market Tip
One of the simplest and most effective ways to build your investment portfolio is called a DRIP, or dividend reinvestment plan. You invest cash in a company’s stock and your dividends are automatically reinvested in shares of the company, typically for a very small fee. Some companies offer a discount as much as 10 percent off the market price on stock bought through their DRIP. Most are run by large companies with a history of paying steady dividends. Start by investigating the companies you already own. Check under the link for investors on their Web sites or ask your broker.
Net Nugget
American Depository Receipts, or ADRs, allow investors to purchase directly foreign equities listed on U.S. stock exchanges.
Learn about ADR basics and check out statistics and performance data:
www.invest- faq.com/articles /stock-adrs.html
Survey says
Higher gasoline prices and interest rates, incentives on new luxury models and a weak stock market are all softening demand and driving down prices for many used high-end models. The average used luxury-car retail price industrywide fell 2.5 percent in the 12 months ending in May. Such a car can currently be bought for less than 50 percent of its original sticker price, compared with 60 percent to 65 percent four years ago.