Categories
Start saving young

The Risky Business of CD Rates

Last November, J opened a CD at Ally Bank. The idea came from a big conversation we had about making his money work harder.

He invested $500 in a 2-year Raise Your Rate CD at 1.5% at Ally. This type of CD allowed him to increase the rate once during the term. (For reference, his online savings account was earning 1.25%.)

What happened

Fast foward to this spring and I saw the rates going up. And up. And up.

Categories
Money mindset

4 Reasons You Stink at Saving

Want to be a better saver? You’re in the right place. Here are four reasons you stink at saving and what to do about it.