Posted By Paul
So there has been a lot of talk of a recession coming, which got me thinking.
I have an emergency fund that I use for rainy days (see my various other posts on my experience with a recent layoff), and I'm trying to figure out what to do with it.
I currently keep it in an internet savings account but all this talk of recession had me wondering.
Over the past months the interest rate for my savings account has been gradually dropping little by little.
It seems like there have been numerous interest rate cuts related to the possibility of a recession coming. Perhaps I should assume that interest rates will continue to fall, and lock in a rate now with a CD?
Also if you've read my article:
Financial Choices, Good vs Better
You know that I generally don't worry too much about squeezing a little more return out of an investment, but this idea struck me as essentially harmless and something that might make sense.
What do people think? Good idea? Bad idea?
This blog contains some simple tips and advice from two regular guys. We're not accountants, financial advisors, or brokers, so follow, ignore, or discuss our ideas as you see fit.