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February 18, 2008

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Always shop for the best rates. I agree that I would want access to my cash so for me a money market would make more since. CDs and bonds tie up your cash and aren't as liquid as your mm's or cds. For some though it still may be their best choice.

Online savings accounts work for us, but you really have to keep an eye on the rates.

We have most of our savings in Vanguard money market as well. It's around 5% at last check and I have my Roth with them as well, so it's convenient.

We have our vacation savings fund at E*trade, due to them having no minimums to open an account. I started it with a credit card bonus check and send all those to that fund along with my expense checks from work, which are about $50-75 a month.

money market or money market funds account? Big difference, in terms of the risk element.

My children receive U.S. Savings bonds for birthdays and Christmas. They have several hundred dollars in bonds. My banker suggested cashing them in early and putting them into something that would earn better interest or be a better investment. Would appreciate suggestions/comments about this.

BECU money market right now. Saving up for a down payment, so I need the cash to be extremely liquid.

I'm currently saving my in PayPal. Their money market rate has been pretty competitive (until the last few weeks anyway). And it is completely liquid.

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