What is your system in bank accounts? Where do you save and where do you put a medium-term reserve for repairs, ...?
- SumDudeLv 74 weeks ago
I love my credit union. Medium term reserve can either be in short term CD's (1 month used to be possible (?), 3 mo (?), a set of laddered 6 mo CDs) or keep the $ in a Money Market account and earn .2% - .3 % (which beats .01% in a regular savings account). [Interest rates are the pits for savers now.]
- Anonymous4 weeks ago
Small amount in local credit union (under $1000) for quick cash on the spot when needed the same day. (terribly low interest)
Auto deposit every paycheck of a large amount to AMEX savings for possible really big bills and long term. Online savings will generally take 2-3 days to get to your checking account so you have to plan ahead. (much better interest)