http://www.moneyandinvesting.net/2007/01/27/cd-ladders/ Making you richer every day. Tue, 22 Dec 2009 00:16:54 -0700 http://wordpress.org/?v=2.8.6 hourly 1 http://www.moneyandinvesting.net/2007/01/27/cd-ladders/comment-page-1/#comment-1791 “Whats the most confusing aspect of personal finance?” part 1 | Natural, Personal Finance Fri, 18 Apr 2008 23:54:38 +0000 http://www.moneyandinvesting.net/?p=17#comment-1791 [...] Then you need to modify your budget to give yourself a slush fund. Each month you get an allowance for a certain amount of money you can spend however you want. It should be cumulative so if you don’t spend it one month, you can accumulate it to get something more expensive. Also make sure you have a fully funded emergency fund. A good strategy is to build up a CD ladder. [...] [...] Then you need to modify your budget to give yourself a slush fund. Each month you get an allowance for a certain amount of money you can spend however you want. It should be cumulative so if you don’t spend it one month, you can accumulate it to get something more expensive. Also make sure you have a fully funded emergency fund. A good strategy is to build up a CD ladder. [...]

]]> http://www.moneyandinvesting.net/2007/01/27/cd-ladders/comment-page-1/#comment-7 A Basic Savings and Investment Strategy: 10/10/10 : Money And Investing Sun, 28 Jan 2007 00:01:45 +0000 http://www.moneyandinvesting.net/?p=17#comment-7 [...] Short Term Savings: Start by setting up a savings account or money market account. Your local bank is fine, and it is not important to optimize the interest rate you get on it. Save 10% of your income there, as soon as you get your paycheck. Most banks will allow you to make the transfers automatic — do so, it will work better that way. As soon as you save a month’s worth of take-home pay (minus savings), move that money into a 3 month, self-renewing Certificate of Deposit. These are not investments, these are emergency savings. Keep saving until you can build a 3 month CD Ladder. Once you have your ladder, all the rest of the money you save into this account is to have fun. My brother calls his short term Savings Account his “Fun Account”. I call my short term Money Market Account my “Discretionary Account”. [...] [...] Short Term Savings: Start by setting up a savings account or money market account. Your local bank is fine, and it is not important to optimize the interest rate you get on it. Save 10% of your income there, as soon as you get your paycheck. Most banks will allow you to make the transfers automatic — do so, it will work better that way. As soon as you save a month’s worth of take-home pay (minus savings), move that money into a 3 month, self-renewing Certificate of Deposit. These are not investments, these are emergency savings. Keep saving until you can build a 3 month CD Ladder. Once you have your ladder, all the rest of the money you save into this account is to have fun. My brother calls his short term Savings Account his “Fun Account”. I call my short term Money Market Account my “Discretionary Account”. [...]

]]>