6 Ways to Earn More on Your Savings
Reader Comments
Earning more on your Savings
It definitely helps to have a plan of action when you are trying to earn more interest on your savings. With the state of the economy so many saving vehicles we used to consider now have lower rates of interest as you stated. That's why it is important to consider what goals and objectives you are trying to accomplish before you blindly submit your money in one direction or the other.
Great insight.
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iNTEREST ON CDS
Starting this year, we have placed all our savings in the highest yielding , shortest term CDs we could find in our area. I don't like internet banking, because I like to look my banker in the face when he tells me the best he can do is 2%. But the big error in my planning is that my 3.5 to 4% yearly only lets me break even, and I still have to pay taxes. This lowering of the interest rate has taken us cash heavy investors our of the money market and back to our "coffee cans". If the Fed doesn't set up some sort of a tiered interest rate, the money is going to dry up.
