Cycling CDs As Your Emergency Savings Fund

We’ve all heard that we’re supposed to have money put away for a rainy day. However, the traditional method of putting “extra” money into a savings account has several drawbacks. First, the typical interest rates on these accounts are lower than inflation, resulting in a new loss on the value of your money. Second, the ease with which you can access your money when “needed” becomes a major drawback when you withdraw money for things you “want.” This can result in frequent “savings account raids” that deplete your emergency funds. Continue reading “Cycling CDs As Your Emergency Savings Fund” »