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Savings act interest =lead balloon

March 22nd, 2008 at 10:35 am

All these Fed rate cuts are killing me. I just keep watching the interest rate on my savings act. go down. It was 5 percent a couple of months ago. Now I'll be lucky if it stays above 3. Anyone have any ideas on a better place to stash my cash??

4 Responses to “Savings act interest =lead balloon”

  1. luxlivingfrugalis Says:

    What's the cash for?

  2. thriftorama Says:

    It's just our emergency fund plus we use it for big home repairs. Up next, a new roof. Basically, it's our liquid fund account.

  3. luxlivingfrugalis Says:

    Could you do a CD ladder? 3 mth, 6 mth, 9 mth, etc. Where a portion would become available each time and if not needed then you can reinvest at hopefully higher rates!

  4. thriftorama Says:

    I've never had a CD before. Maybe I should look into it.

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