Comments on: Are Certificate of Deposits (CDs) worth it?

By: tinogut

tinogut — Fri, 13 Nov 2009 13:03:39 +0000

I am getting unemployment benefits at present, but I need extra money to pay off some hot loans. Will I lose my benefits if I cash in a CD to make ends meet?

By: Hot Link » Blog Archive » Carnival of Personal Finance #170 – Famous Last Sentences Edition

Sun, 12 Oct 2008 09:51:40 +0000

[...] Journey to Millions examines the worth of CDs and discusses Wamu’s 5% 1 Year CD vs. Wamu’s 3.75% savings [...]

By: Wall Street Journal's Tips for Surviving this Financial Nightmare | My Journey to Millions

Mon, 06 Oct 2008 02:55:05 +0000

[...] about how I don’t really get this product considering they have a 4% liquid Savings account here and here. [...]

By: CD Rates

CD Rates — Wed, 01 Oct 2008 17:30:14 +0000

My Journey, this probably doesn’t matter to you right now but one day it will matter on your journey.. the $100,000 limit might be raised to $250,000 for individual accounts.

By: My Journey

My Journey — Sat, 20 Sep 2008 21:17:54 +0000

appfunds,

I am sure everyone worries about their bank going bankrupt, but after thinking about it for a little while (and after calming the wife down since we mainly use Wamu) I decided it wasn’t necessary to freak out.

I have no where near the FDIC limits and I have faith in our country and banking system to where I would be made whole.

By: appfunds

appfunds — Sat, 20 Sep 2008 07:44:39 +0000

What about your bank going bankrupt. Do you consider it or no?

By: Carnival of Personal Finance #170 | My Journey to Millions

Carnival of Personal Finance #170 | My Journey to Millions — Wed, 17 Sep 2008 18:33:32 +0000

[...] Article comparing the CDs vs. High yield savings account found (here) was chosen to be apart of the Carnival of Personal Finance #170 found (here). The Personal [...]

By: My Journey

My Journey — Tue, 16 Sep 2008 04:56:11 +0000

Karla,

That is a whole different issue, one that I absolutely understand. I purposefully have more money going into my ING account (3%) vs my WAMU High yield savings (3.75%) because it provides a barrier to spending.

While I understand that, and if that is your reasoning RUN WITH IT! Just be aware why you are doing it…it is the same situation as the debt snowball vs debt avalanche widely debated all over PF Blogs, do what works for ya!

By: The Certificate of Deposit Debate Rages on! | My Journey to Millions

The Certificate of Deposit Debate Rages on! | My Journey to Millions — Mon, 15 Sep 2008 23:21:34 +0000

[...] whether to purchase a CD, a few days before, and his eventual decision was made subsequent to my post on the [...]

By: karla (threadbndr)

karla (threadbndr) — Mon, 15 Sep 2008 20:09:35 +0000

I agree with MasterPo. It all depends on what that money is “for”. If we are talking a short term savings account (for a vacation, for example, or to park funds waiting for some planned disbursement like an annual tax bill), then the modest difference in the interest rate probably won’t matter to you.

I, however, WANT part of my emergency fund somewhere there is a penalty if I pull it out. I know myself. I have a tendency to ‘fudge’ what actually consitutes an emergency. It’s part of fiscal self discipline to me to have my ‘lost my job’ fund in laddered CDs, while the ‘auto ins deductible’ and ‘washing machine blew up’ parts of the e-fund are in an online yield savings account with three day access.

Any funds that are any ‘closer’ WILL get spent. I’m still working on that part of my fiscal discipline LOL.