Have you ever felt as though the world is conspiring against you when you decide to make a change to improve your life? You vow to lose 20 pounds, and a Dairy Queen opens down the street from your house. You decide you want to be more productive at work, but then March Madness can be streamed for free on your computer.
Well, it can be the same for saving money. When the economy was flying high and the stock market made everyone look like a genius, savings rates were at all-time lows, sometimes even below 0 percent. Unsurprisingly, interest rates on savings accounts were also decent. Now that the recession hit and more people are saving money, guess what: Interest rates are pathetic. One percent here, .5 percent there, 2 percent for a 5-year certificate of deposit, et al.