Today I’m excited to tell you about the new money market account recently launched by Capital One 360 as well as some cool financial tech hacks that Katie Linendoll, Capital One partner, shared with me.
First, let’s take a look at the Capital One 360 Money Market and then more about Katie.
360 Money Market Account
This new account is similar to the 360 Savings account you’ve seen me share so much about, but it differs in that it offers two tiers. Account balances $10,000 and above earn 1% APY and balances below currently earn .6% APY.
Why am I excited about this new account? As an example, let’s consider emergency funds. If you’ve done a good job building yours up to the recommended 3-6 months (depending on your situation), you likely have a savings account balance above $10,000.
Remember, emergency funds are insurance policies (not investments) and you want to keep them in a savings account or money market in order to quickly get access to the money when needed. The other benefit is separating your savings from your checking account so you aren’t tempted to dip into it.
All that said, consider this strategy: Perhaps you already have a Capital One 360 Savings Account or other savings account. Consider taking $10,000 and open up a new Capital One 360 Money Market to maximize your interest earnings. I know that I’m open to earning some extra money and that can add up depending on your balance.
The other features of the account are the same as the 360 savings account but here’s a quick recap:
- No monthly maintenance fees
- No minimum balance requirements
- And you’ll also enjoy the same ACH transfer options as the 360 savings and checking accounts
- Access your money online or with the mobile app
- FDIC insured up to the allowable limits
Tech Financial Life Hacks from Katie Linendoll
Now that you know about the new Capital One 360 Money Market Account, back to Katie Lindendoll, Capital One partner, and the financial hacks she provided me.
If you’re not aware, Katie Linendoll is a technology and lifestyle expert. She is a tech contributor for the Today show, once set a world record for number of high fives in 5 minutes, worked for ESPN and offers her tips to many media outlets.
I was provided the opportunity to interview Katie by Capital One and she shared with me some of her latest in tech financial hacks:
1. Ask Alexa
Alexa is a voice service and the latest in Amazon technology. She comes programmed with the Amazon Echo. What does the Echo do? In short, Echo (and Alexa) play music, read audio books, control internet based home utilities, report the news, answer questions and more. Katie says to activate the Capital One skill and let Alexa tell you your bank account balance, latest transactions, upcoming bills, etc. This savvy tip is a time saver!
2. Consider Smart Home Tech
Let smart home technology help you save money. Katie likes the Nest Thermostat which reportedly can help you save $145 annually. You can program it from anywhere and install it in a matter of minutes. It even works with Alexa for voice control. People tend to manually adjust their thermostats and that’s where it can get expensive. Let Nest learn and adapt to your behaviors (when you’re not home, sleeping, etc.) to help you save.
3. Cut the Cable Cord
You’ve probably heard there are free or low cost digital subscriptions versus traditional cable these days. Cord cutting can save $100 or more each month. As one example, consider purchasing an Apple TV which allows you to choose your specific programming versus wasting money on unused channels. While not all channels are available through your Apple TV, you can also subscribe to services such as Netflix and Hulu that offer a wide variety of shows and movies to watch.
Get Some Tech Help
Need some extra help with making the move to all this latest technology? Who has the time to read the instructions and follow the online tutorials? Not me. Another tip to consider is ordering tech from a website such as enjoy.com. Enjoy will deliver your technology by a subject matter expert who will take the time to help you unbox it, set it up and show you exactly how it works.
Check out the new Capital One 360 Money Market Account and hopefully, Katie’s tips have helped you think more about how you can save time and money by using the latest in technology.
This is a sponsored conversation written by me on behalf of Capital One. The opinions and text are all mine.