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On Stuffing that Wallet

News flash: The economy's in the dumper. It's times like these that you wanna put your money somewhere low-risk, and in spite of my lack of a degree in finance, I'd like to suggest a certificate of deposit (CD) with a green bank.

I recently funneled some funds into CDs with New Resources and HSBC. If you've been reading your tips, you might know New Resources as maybe the greenest bank in the nation, but HSBC's greenness was news to me. Turns out it's ranked first when it comes to climate change among big banks (as ranked by Ceres, which is this well-respected organization for responsible investors). It also offers a green credit card touted by Leonardo DiCaprio.

As of today, HSBC has a 4% APY CD deal - you give them your money for 6 months, and at the end of that, you get it back, plus about 2%. Easy.

-Toshio...off to spend my interest...

PS: Adam at NeighBorrow (a site that connects neighbors who wanna lend each other stuff) dropped us one about a new contest that could stuff your wallet. Deets are here.

Posted by: ddiprima on 10/24/2008
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Adam Berk  on October 24, 2008 at 12:39 AM 1
Thanks Toshio- Yeah, neighBORROW.com is giving away $2,500 to help kick-start and test some neighBORROW-hoods. We hope that plenty of Idealbiters will take the opportunity to create neighBORROW-hoods in their communities, at their offices, or on their campuses. Biters feel free to email us with any questions or comments admin@neighBORROW.com:)
Kirsten  on October 24, 2008 at 09:55 AM 2
I really wanted one of those db clay wallets from the email, but they're all sold out. Where can I get one??
Diana  on October 24, 2008 at 10:39 AM 3
Another spot to get some cool recycled wallets is www.refinding.com - they have other cool stuff made from old tires, trading cards, and typewriter keys...
Idealbite Team Member tmeronek   on October 24, 2008 at 11:35 AM 4
Kirsten, There are some DB Clays available at http://www.thegreenloop.com/wallets_eco_concious_s/325.htm, http://shop.feelmorehuman.com/m-31-DB-Clay.aspx, and http://www.tobi.com/men/home/shop-by-brand/290-db-clay.
Doc Pollo  on October 24, 2008 at 12:15 PM 5
Wait... isn't a "4% APY" an ANNUAL Percentage Yield? So if you give them your money for only 6 months, you won't actually get the full "plus 4%".
Idealbite Team Member tmeronek   on October 24, 2008 at 12:50 PM 6
Doc Pollo, You're right - yield over six months would be closer to 2%. Thanks for the correction.
Joelle  on October 24, 2008 at 02:28 PM 7
Another great option is the Splaff wallet, made from bike tube rubber and hemp! Also available are a coin purse and belt. http://www.herbivoreclothing.com/index.php?page=item&item=233
Liz  on October 24, 2008 at 03:19 PM 8
Every time Ideal Bite recommends an accessory, I can't help thinking it is actually causing people to spend more money and generate more waste. When you buy more stuff, even if it's organic, you're still buying more stuff. It still costs land and fuel and money to produce the stuff and ship it to you. Even if your wallet's not organic, your best option is not to throw it away: your best option is to keep using it, thus saving the resources required to make you a new one. Reusing what you've already got is almost always the most environmentally friendly and wallet-friendly option. I wonder if perhaps Ideal Bite should focus less on selling products and more on recycling and conservation tips.
Ali  on October 24, 2008 at 03:50 PM 9
If "recycled" products are made from junk somebody was just gonna throw away, why the h**l is it so expensive?
Kirsten  on November 04, 2008 at 05:42 PM 10
Thanks, the db clay was a hit!
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