I checked my WaMu savings account this morning and my APY has fallen from 4% to 3%. It is still a pretty good rate, but no longer the highest out there. There’s your update for the day.


So, my fears came true, and it wasn’t so painful.

My family banks at WaMu because I’ve always thought they were great with the free checking, high yield savings, free checks, etc. I started to get worried these past two weeks as things at WaMu got worse and worse. It was my intention for us all to withdraw our money from WaMu in order to avoid the long lines seen from the IndyMac ordeal when WaMu got taken over by the FDIC. However, I also didn’t want to jump the gun and knowing that it is the panicked withdrawing of money that tips bank over the brink, I also didn’t feel good about withdrawing all of our money like that.

Anyhow, just as my sister and I made the decision yesterday to go to the bank Friday afternoon and withdraw our money we turned on NPR to find out that WaMu had indeed just been taken over by the Feds, but then promptly bought by JPMorgan Chase and it would be business as usual in the morning. I checked our accounts this morning and everything is indeed business as usual. No change in my accounts. Debits/Deposits are posting, my debit card works just fine.

Congratulations to JP Morgan. If a bank has to go down, this is exactly the way it should go. I will certainly continue with them, just as long as they maintain the qualities that made WaMu such a great place to bank at.

So, after my whole thing about not having any money and feeling so inadequate, etc. I got a check in the mail from State tax returns for $1,000. Woo hoo. Ok, so $1K is not really that much money, but it cna certainly re-start my savings account, which I emptied for wedding costs. I am feeling much happier now, specially because I have a WaMu savings account with a wonderfully high 4% APY my little state tax return will earn me about $40. That makes me smile….ooohh…I could get a new sweater dress just with my interest. I hope WaMu doens’t go under with the stock market crisis because I LOVE their services.

I was blog surfing earlier today and ran across Simple Mom . I’m not one to read the Mommy Blogs, because, well, I’m not a mom and I think most of the stuff they talk about is pretty boring. However, I did go from being a single woman in a one bedroom apartment to a married woman with a husband and a teenage sister to care for and a big house to manage in under 6 months. Needless to say, I’m suddenly in unfamiliar territory.

I’ve always been a big fan of to do lists and organizational tools. Simple Mom teaches one how to create a Home Management Notebook . I think this is a great read, specially for someone like me, who out of nowhere has a household to take care of.

At the same time, I’m hooked on My Dollar Plan and using a lot of her advise to begin creating a financial plan for my husband and I. Specifically because we both want to go back to school, my 19 year old sister lives with us and she has school to pay for also. My other sister is 11 years old and I see her college years fast approaching at a rate I can’t imagine trying to save for. On top of that, I want a new house. I would like for both of us to retire early. We want to travel to Colombia within the next 6 – 8 months.

With so much to plan for, I’m thinking of merging Simple Mom’s tools and Dollar Plan’s ideas to create a Life Management Notebook. A place where I can create a financial plan both short and long term for my mixed up family. I can create a personal plan to go back to school. And I can manage this big house I’m in and the household needs.  I definitely believe my household needs a cleaning weekly/monthly plan. Another awesome idea from Simple Mom is using Google Calendar to plan a monthly menu. Thank you, and I’m on it. I think that if I plan the menus ahead of time, I’ll shop better at the grocery store and be able to save money too.

Ok, that’s all for now, I’ll update as I start creating out Life Management Notebook