Where to Put Your Cash Now for Every Income Level
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,581,977 (+0.10%)       Melbourne $970,512 (+0.23%)       Brisbane $885,023 (+0.03%)       Adelaide $813,016 (+0.20%)       Perth $760,003 (-0.11%)       Hobart $733,438 (-1.28%)       Darwin $643,022 (-0.79%)       Canberra $970,902 (+1.87%)       National $1,000,350 (+0.23%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $721,725 (+0.37%)       Melbourne $488,237 (-0.76%)       Brisbane $495,283 (+1.37%)       Adelaide $404,022 (-2.77%)       Perth $405,420 (-0.69%)       Hobart $498,278 (-1.60%)       Darwin $339,700 (-0.58%)       Canberra $480,910 (-0.04%)       National $502,695 (-0.26%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 10,626 (-230)       Melbourne 15,220 (+56)       Brisbane 8,417 (-24)       Adelaide 2,720 (-9)       Perth 6,897 (+56)       Hobart 1,234 (+5)       Darwin 281 (+5)       Canberra 1,079 (-30)       National 46,474 (-171)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 8,563 (-253)       Melbourne 8,007 (-12)       Brisbane 1,824 (-34)       Adelaide 493 (-16)       Perth 1,902 (-1)       Hobart 176 (+4)       Darwin 388 (-7)       Canberra 858 (+2)       National 22,211 (-317)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $775 (-$5)       Melbourne $570 ($0)       Brisbane $600 ($0)       Adelaide $580 (+$10)       Perth $625 (-$5)       Hobart $550 ($0)       Darwin $690 (-$10)       Canberra $680 ($0)       National $642 (-$2)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $730 ($0)       Melbourne $550 ($0)       Brisbane $625 ($0)       Adelaide $460 (+$10)       Perth $580 (+$5)       Hobart $460 (+$10)       Darwin $550 ($0)       Canberra $560 (-$5)       National $576 (+$2)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 5,654 (+231)       Melbourne 5,764 (+128)       Brisbane 4,271 (-9)       Adelaide 1,259 (+101)       Perth 1,944 (+50)       Hobart 337 (-36)       Darwin 168 (+19)       Canberra 647 (+18)       National 20,044 (+502)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 9,121 (+505)       Melbourne 6,022 (+34)       Brisbane 2,066 (+18)       Adelaide 366 (+1)       Perth 600 (-5)       Hobart 138 (-17)       Darwin 306 (+12)       Canberra 736 (+20)       National 19,355 (+568)                HOUSE ANNUAL GROSS YIELDS AND TREND         Sydney 2.55% (↓)       Melbourne 3.05% (↓)       Brisbane 3.53% (↓)     Adelaide 3.71% (↑)        Perth 4.28% (↓)     Hobart 3.90% (↑)        Darwin 5.58% (↓)       Canberra 3.64% (↓)       National 3.34% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.26% (↓)     Melbourne 5.86% (↑)        Brisbane 6.56% (↓)     Adelaide 5.92% (↑)      Perth 7.44% (↑)      Hobart 4.80% (↑)      Darwin 8.42% (↑)        Canberra 6.06% (↓)     National 5.96% (↑)             HOUSE RENTAL VACANCY RATES AND TREND       Sydney 0.7% (↑)      Melbourne 0.8% (↑)      Brisbane 0.4% (↑)      Adelaide 0.4% (↑)      Perth 1.2% (↑)      Hobart 0.6% (↑)      Darwin 1.1% (↑)      Canberra 0.7% (↑)      National 0.7% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 0.9% (↑)      Melbourne 1.4% (↑)      Brisbane 0.7% (↑)      Adelaide 0.3% (↑)      Perth 0.4% (↑)      Hobart 1.5% (↑)      Darwin 0.8% (↑)      Canberra 1.3% (↑)      National 0.9% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND       Sydney 28.0 (↑)      Melbourne 29.2 (↑)        Brisbane 30.6 (↓)       Adelaide 23.8 (↓)     Perth 34.2 (↑)      Hobart 29.4 (↑)      Darwin 39.9 (↑)      Canberra 28.2 (↑)      National 30.4 (↑)             AVERAGE DAYS TO SELL UNITS AND TREND       Sydney 29.4 (↑)      Melbourne 29.6 (↑)        Brisbane 30.3 (↓)       Adelaide 22.5 (↓)       Perth 39.2 (↓)     Hobart 26.1 (↑)        Darwin 36.1 (↓)     Canberra 34.4 (↑)        National 31.0 (↓)           
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Where to Put Your Cash Now for Every Income Level

Rising rates may mean it’s time to put more money in savings accounts, certificates of deposit and Treasury bills

Thu, Sep 7, 2023 8:35amGrey Clock 4 min

Stop dwelling on what you’ve lost thanks to rising interest rates and take advantage of the opportunities they present.

High rates are expected to linger for a while and they are having a corrosive impact on some parts of our finances. Taking out a $500,000 mortgage to buy a home today will cost you about $400 more a month than it would have a year ago in a standard 30-year mortgage. That is not to mention higher rates on credit cards, personal loans and other products for borrowers.

The high-rate periods can also bring juicy, high yields on savings accounts, certificates of deposit and Treasury bills—that is, banks are paying you to let your money sit there. And anyone can take advantage, regardless of income.

Dena Bashri opened a SoFi savings account last fall. It now yields 4.5% a year. She wanted a higher return than she was getting at her local credit union.

Bashri, 25 years old, is a senior director at a fundraising firm and makes roughly $92,500 a year. She saves money on rent by living with her parents in Virginia so she’s able to contribute about $4,900 each month to her savings account. She’s already earned close to a few hundred dollars in interest and hopes to continue building her rainy-day fund, she said.

“Emergency savings offers me the flexibility to take risks but also financially anticipate any life changes that may happen,” Bashri said.

Here’s a financial road map for making the most of great yields while staying on track with your short- and long-term money goals.

Level 1: Nothing to spare

Living paycheck to paycheck is now the norm for most Americans.

Financial advisers urge those holding large amounts of debt to first pay down high-interest balances. About half of people carrying credit-card debt allow those balances to roll over into the next month, according to a recent Bankrate survey.

Credit-card interest rates are at record highs, making that debt even more expensive to maintain. Putting money in a savings account with a 4.5% rate will help little if you haven’t paid down your Visa balance with the current average rate of 22.16%.

“Although you may be able to set aside a certain amount of money in a savings account, if you’re potentially offsetting that with not paying off higher debt, that’s an important consumer consideration,” said Courtney Mitchell, head of consumer deposits, products and payments at TD Bank.

For avid debit-card users, high-yield checking accounts are worth consideration, financial advisers say. These accounts can be found at credit unions and online banks and are yielding up to 6%. That interest can then be linked to a high-yield savings account. This is a good option for debit-card users who want to get a start on their emergency fund.

But try not to keep more than one month’s worth of expenses sitting in a checking account, said Rob Williams, managing director of financial planning and wealth management at Charles Schwab. Research shows money sitting in a checking account is more likely to be spent than money in a savings account.

Level 2: $0—$1,000

For those who can sock away at least a little bit each month, even putting $25 in a high-yield account can make a difference, said Mitchell.

If you contribute $25 a month to a savings account yielding 4.5%, you will have roughly $300 in a year including interest.

Putting that money toward emergency savings? Liquidity is key so that when something unexpected happens, like a flat tire, you can get the money quickly. High-yield savings accounts are the best places for emergency savings because they allow easy withdrawals, financial advisers say.

“You really need emergency savings to be in something you can get at as soon as possible and also without a penalty,” said Mark Hamrik, senior economic analyst at Bankrate.

Financial advisers recommend building up six months to one year of expenses in an emergency-savings account. Homeowners should save a little more for unexpected repairs.

Level 3: $1,000+

Once you’re comfortable with your emergency savings, you can set aside money for holiday gifts, vacations and other short-term goals such as a down payment on a car.

The run of interest rate increases has made certificates of deposit popular again. If you are comfortable locking money away for a period of time, consider a CD for some of these short-term goals. Many six-month to one-year CDs are offering yields above 5%.

It can be helpful to divvy up your high-yield savings for coming expenses.

Erin Confortini, 24, is a freelance marketing consultant based in Pennsylvania who made about $120,000 last year. She has three high-yield savings accounts for her short-term savings goals.

Each month, Confortini puts $150 aside for car insurance, $300 for coming vacations and $200 toward Christmas and birthday gifts, she said.

“It’s really great that now that rates are increasing, we do have an option to earn a little bit of money,” Confortini said.

Level 4: Investing for long term

You’ve got at least one month of expenses in your checking account, you’ve beefed up emergency savings and you’ve set aside buckets of money for anticipated expenses.

Maybe it’s time to get more money out of high-yield savings. Keeping all of your money in savings isn’t a strategy for wealth building because the interest gained on high-yield accounts likely won’t outpace inflation in the long run, said Kyle McBrien, a certified financial planner at Betterment.

One simple way to take advantage of rates and get out of high-yield savings is Treasurys.

Take Victor Cipolla, a 33-year-old entrepreneur in New York.

Cipolla moved $30,000 from his high-yield savings account into a Treasury bill after he noticed that rates were going up. The bill currently yields more than 4% and he reinvests the money in another Treasury bill every six months when it matures, he said. The average yield on a six-month Treasury bill is 5.3%.

“We’ve always had this low interest rate environment, so this is a new area to navigate,” said Cipolla.


Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts

Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’

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Couples find that lab-grown diamonds make it cheaper to get engaged or upgrade to a bigger ring. But there are rocky moments.

Mon, Dec 11, 2023 4 min

Wedding planner Sterling Boulet has some advice for brides-to-be regarding lab-grown diamonds, which cost a fraction of the natural ones.

“If you’re trying to get your man to propose, they’ll propose faster if you offer this as an option,” says Boulet, of Raleigh, N.C. Recently, she adds, a friend’s fiancé “thanked me the next three times I saw him” for telling him about the cheaper lab-made option.

Man-made diamonds are catching on, despite some lingering stigma. This year was the first time that sales of lab-made and natural mined loose diamonds, primarily used as center stones in engagement rings, were split evenly, according to data from Tenoris, a jewellery and diamond trend-analytics company.

The rise of lab-made stones, however, is bringing up quirks alongside the perks. Now that blingier engagement rings—above two or three carats—are more affordable, more people are dealing with the peculiarities of wearing rather large rocks.

An engagement ring made with a lab-grown diamond at Ada Diamonds in New York City. PHOTO: CAM POLLACK/THE WALL STREET JOURNAL

Esther Hare, a 5-foot-11-inch former triathlete, sought out a 4.5-carat lab-made oval-shaped diamond to fit her larger hands as a part of her vow renewal in Hawaii last year. It was a far cry from the half-carat ring her husband proposed with more than 25 years ago and the 1.5-carat upgrade they purchased 10 years ago. Hare, 50, who lives in San Jose, Calif., and works in high tech, chose a $40,000 lab-made diamond because “it’s nuts” to have to spend $100,000 on a natural stone. “It had to be big—that was my vision,” she says.

But the size of the ring has made it less practical at times. She doesn’t wear it for athletic training and swaps in her wedding band instead. And she is careful to leave it at home when traveling. “A lot of times I won’t take it on vacation because it’s just a monster,” she says.

The average retail price for a one-carat lab-made loose diamond decreased to $1,426 this year from $3,039 in 2020, according to the Tenoris data. Similar-sized loose natural diamonds cost $5,426 this year, compared with $4,943 in 2020.

Lab-made diamonds have essentially the same chemical makeup as natural ones, and look the same, unless viewed through sophisticated equipment that gauges the characteristics of emitted light.

At Ritani, an online jewellery retailer, lab-made diamond sales make up about 70% of the diamonds sold, up from roughly 30% two years ago, says Juliet Gomes, head of customer service at the company, based in White Plains, N.Y.

Ritani sometimes records videos of the lab-diamonds pinging when exposed to a “diamond tester,” a tool that judges authenticity, to show customers that the man-made rocks behave the same as natural ones. We definitely have some deep conversations with them,” Gomes says.

Not all gem dealers are rolling with these stones.

Philadelphia jeweller Steven Singer only stocks the natural stuff in his store and is planning a February campaign to give about 1,000 one-carat lab-made diamonds away free to prove they are “worthless.” Anyone can sign up online and get one in the mail; even shipping is free. “I’m not selling Frankensteins that were built in a lab,” Singer says.

Some brides are turned off by the larger bling now allowed by the lower prices.When her now-husband proposed with a two-carat lab-grown engagement ring, Tiffany Buchert, 40, was excited about the prospect of marriage—but not about the size of the diamond, which she says struck her as “costume jewellery-ish.”

“I said yes in the moment, of course, I didn’t want it to be weird,” says the physician assistant from West Chester, Pa.

But within weeks, she says, she fessed up, telling her fiancé: “I think I hate this ring.”

The couple returned it and then bought a one-carat natural diamond for more than double the price.

Couples find that lab-grown diamonds have made it more affordable to get engaged. PHOTO: CAM POLLACK/THE WALL STREET JOURNAL

When Boulet, the wedding planner in Raleigh, got engaged herself, she was over the moon when her fiancé proposed with a 2.3 carat lab-made diamond ring. “It’s very shiny, we were almost worried it was too shiny and was going to look fake,” she says.

It doesn’t, which presents another issue—looking like someone who really shelled out for jewellery. Boulet will occasionally volunteer that her diamond ring came from a lab.

“I don’t want people to think I’m putting on airs, or trying to be flashier than I am,” she says.

For Daniel Teoh, a 36-year-old software engineer outside of Detroit, buying a cheaper lab-made diamond for his fiancée meant extra room in his $30,000 ring budget.

Instead of a bigger ring, he got her something they could both enjoy. During a walk while on an annual ski trip to South Lake Tahoe, Calif., Teoh popped the question and handed his now-wife a handmade wooden box that included a 2.5-carat lab-made diamond ring—and a car key.

She put on the ring, celebrated with both of their sisters and a friend, who was the unofficial photographer of the happy event, and then they drove back to the house. There, she saw a 1965 Mustang GT coupe in Wimbledon white with red stripes and a bow on top.

Looking back, Teoh says, it was still the diamond that made the big first impression.

“It wasn’t until like 15 minutes later she was like ‘so, what’s with this key?’” he adds.


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