Parchayi.com – Personal Finance Simplified

I always am looking for the best deal online for everything and while looking at today’s news, I found Bank of America offers free equity trades (upto 30 a month, currently only in some areas – supposedly coming Feb 2007 everywhere) if you have more than $25000 in combined deposits with them. However I was disappointed that the deposits don’t include the money in equities (just checking, savings and CDs)!!!

Considering that Bank of America CD rates and savings rates (2.4%) are much lower than other banks, especially online ones – that makes it not that great a deal. The only advantage is the convenience of having all your accounts accessible from the same place.

A while back I got into an argument with some friends about whether I am covered by my insurance while driving a rental car. They said I’m not. So I called up my insurance company Liberty Mutual and was told that my coverage holds when I drive a rental. Also last week I needed to borrow a friend’s car. In this case, according to Liberty Mutual, if the friend gave me permission to drive his/her car, the friend’s insurance is what covers me.

Always verify this with your insurance company first! Don’t go blaming me if this doesn’t apply to you