Exador's financial tips
I've recently discovered the benefits of CDs and money market accounts. My savings account has a 0.25% interest rate; pathetic.
I just discovered that 11 month CDs have a rate 5.50%! I also discovered that money market accounts have a rate of 2.25%. Still a hell of a lot better than a savings account. The difference?
You can only electronically withdraw six times per month from a money market account. That's it! You can still go into the bank, or use the ATM and withdraw as often as you like.
So I transferred about half my savings into a CD and the other half into a money market account.
Do likewise.
I just discovered that 11 month CDs have a rate 5.50%! I also discovered that money market accounts have a rate of 2.25%. Still a hell of a lot better than a savings account. The difference?
You can only electronically withdraw six times per month from a money market account. That's it! You can still go into the bank, or use the ATM and withdraw as often as you like.
So I transferred about half my savings into a CD and the other half into a money market account.
Do likewise.
posted by Exador at
8:36 AM
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