- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Winter Olympics
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
What to do with Emergency Cash savings
Posted on 7/27/09 at 11:03 am
Posted on 7/27/09 at 11:03 am
This was the best one i have heard of doing.
If you have 6 months expenses saved up, take about 1 month and just keep it in a savings account then take your remaining money and open up 1 year CD's in tiers, every 3 months. That way you always have a CD coming up every 3 months incase you need to get at the money.
Thoughts?
If you have 6 months expenses saved up, take about 1 month and just keep it in a savings account then take your remaining money and open up 1 year CD's in tiers, every 3 months. That way you always have a CD coming up every 3 months incase you need to get at the money.
Thoughts?
6
Posted on 7/27/09 at 11:10 am to barry
In theory this is a good idea, but in practice you're talking about a relatively small amount of money and a relatively small difference in the interet rates between the CDs and the savings account. I'd rather have full access to my emergency fund than an extra $8 a year.
Posted on 7/27/09 at 11:12 am to Cold Cous Cous
quote:
I'd rather have full access to my emergency fund than an extra $8 a year.
+1
Posted on 7/27/09 at 2:00 pm to barry
Pretty much what I do. I keep about 1 to 1-1/2 years worth of expenses in the savings and keep the rest in a cd which I add to every renewal. Seems to be working well for me 
Posted on 7/27/09 at 6:29 pm to barry
I may be completely wrong, but i opened Roth IRA accounts in my name and my wife's name. This way, i have access to the money that i contributed, and i'm also getting a good ROI in case i don't ever need it. Plus, if your needs are short term, you have 60 days (i think) to return all of the borrowed money to the Roth without contribution limits.
Posted on 7/27/09 at 7:39 pm to Cantstandya
there are banks offering from 4-5.25 percent on checking- I would sink it there and the rest in a 30 day CD
Posted on 7/28/09 at 12:19 am to barry
quote:
If you have 6 months expenses saved up, take about 1 month and just keep it in a savings account then take your remaining money and open up 1 year CD's in tiers, every 3 months. That way you always have a CD coming up every 3 months incase you need to get at the money.
IMO, seems like a lot of trouble to go through for only 6 months of expenses.
Posted on 7/28/09 at 10:51 am to 756
quote:
there are banks offering from 4-5.25 percent on checking-
Where?Posted on 7/28/09 at 11:02 am to barry
Pelican State Credit Union is offering 5.25 and Neighbors is offering 4.75.
Posted on 7/28/09 at 4:18 pm to crazycamp2
How the frick is this possible?
Posted on 7/28/09 at 4:21 pm to barry
quote:
What to do with Emergency Cash savings
buy a Rolex immediately
-the Hobo
Posted on 7/28/09 at 5:29 pm to hobo with a rolex
Prob. small banks offering those rates. Not the big ones getting hurt by this mess (i.e. Regions).
Posted on 7/28/09 at 5:37 pm to crazycamp2
quote:
Pelican State Credit Union is offering 5.25
I just went look. There is restrictions on how to get this.
Posted on 7/29/09 at 6:31 am to jguidroz
Gulf Coast Bank has a pretty good rate as well. They have a cool logo.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News