Comments on: Carnival time http://www.affinefinancial.com/2009/06/16/carnival-time/ Wed, 03 Feb 2010 01:57:04 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: helen_maynard http://www.affinefinancial.com/2009/06/16/carnival-time/comment-page-1/#comment-772 helen_maynard Wed, 17 Jun 2009 02:00:30 +0000 http://www.affinefinancial.com/?p=632#comment-772 Hi RD, My point is that Ally offers a CD that doesn't have a penalty for early withdrawal. www.ally.com check it out. Thanks, Helen. Hi RD,

My point is that Ally offers a CD that doesn’t have a penalty for early withdrawal. http://www.ally.com check it out.

Thanks,

Helen.

]]> By: RD @ eMoneyLog http://www.affinefinancial.com/2009/06/16/carnival-time/comment-page-1/#comment-771 RD @ eMoneyLog Wed, 17 Jun 2009 01:51:57 +0000 http://www.affinefinancial.com/?p=632#comment-771 Hi Helen, The reason I suggest not to put your emergency fund money in CDs is two fold. 1. There is penalty for breaking a CD 2. During a crisis you want your money to be easily accessible. There are definitely advantages to have CD in terms of interest rate but to get good rate you have to put your money in long term CDs. What one could do is they could allocate some money to CDs and keep some in Checking/Savings account so that they do not always have to break their CD in case of an emergency. Hi Helen,

The reason I suggest not to put your emergency fund money in CDs is two fold.

1. There is penalty for breaking a CD
2. During a crisis you want your money to be easily accessible.

There are definitely advantages to have CD in terms of interest rate but to get good rate you have to put your money in long term CDs. What one could do is they could allocate some money to CDs and keep some in Checking/Savings account so that they do not always have to break their CD in case of an emergency.

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