On The Money Latest Investing Posts
- Are The Markets & My 401(k) Heading For Another Freefall?
- Coping With The Prospect of Inflation
- Saving For Retirement On A Budget
- My Retirement Portfolio: When Is Enough Enough?
- What's The Best Way To Invest For Retirement?
- Q&A: Yes Virginia, All Annuities Have Fees
- Understanding Annuities
- Picks of the Day: Large-Cap Growth Stocks and more
- Picks of the Day: Int'l Bond Fund and more
- Picks of the Day: Gold and Alternative Assets
On The Money Latest Posts
- Are The Markets & My 401(k) Heading For Another Freefall?
- Credit Scores: The Real Deal?
- Q&A: Old Delinquent Accounts Appear on my Credit Report. Is that Fair?
- Carmen: 5 Credit Score Rules and Truths
- Coping With The Prospect of Inflation
- Q&A: Should I Buy In To Debt Relief Agencies?
- Saving For Retirement On A Budget
- Carmen: The Mindset of Buying American Cars
- Q&A: Should I Pay Off Credit Cards to Raise My Credit Score Before Buying a House?
- Carmen: We Need a Healthcare Solution
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The new year is a great opportunity to start saving again. To do that, here are the three strategies to supercharge your savings:
1. Automate! Earmark a certain percentage or dollar amount for a savings account and let your bank put it into a high-yield savings account before you can get your hands on it.
2. Go online. The web offers the best savings rates, hands down. Whether it’s a money market or a high-yield account, make sure you’re getting a rate that beats inflation.
3. Ladder your CDs. Instead of investing entirely in one certificate of deposit (CD), spread your investments out over time. Put a chunk in a six-month CD, a chunk in a one-year CD and a chunk in a two-year CD. This way, your investments mature at different times and you will also keep a steady flow of liquidity. This strategy tends to lock in the best rates. (Read more about laddering CDs here.)
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