Comments on: CDs – A good way to save for a big purchase? http://www.countingmypennies.com/2009/03/09/cds-a-good-way-to-save-for-a-big-purchase/ Thu, 09 Feb 2012 06:02:48 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: CanadianSaver http://www.countingmypennies.com/2009/03/09/cds-a-good-way-to-save-for-a-big-purchase/comment-page-1/#comment-1820 CanadianSaver Mon, 09 Mar 2009 17:51:52 +0000 http://www.countingmypennies.com/?p=916#comment-1820 I have a 1 year CD due each and every month now and I am soooo glad I started a few years ago. I started with $250/month, then $500/month, and I'm now up to $750/month (it's taken about 4 years to get to this level as I was saving for other stuff in the meantime). This is mostly my emergency fund, and I like that there is one maturing on the first of each month, if I have an emergency and need the cash instead of rolling it over. I've always gotten a bit better rate for locking it in... I think your friend's strategy is great... she'll probably get a bit more interest than just regular savings and like you said, it'll prevent her from dipping into the computer savings. CDs, I'm all for them! I have a 1 year CD due each and every month now and I am soooo glad I started a few years ago. I started with $250/month, then $500/month, and I’m now up to $750/month (it’s taken about 4 years to get to this level as I was saving for other stuff in the meantime).

This is mostly my emergency fund, and I like that there is one maturing on the first of each month, if I have an emergency and need the cash instead of rolling it over.

I’ve always gotten a bit better rate for locking it in…

I think your friend’s strategy is great… she’ll probably get a bit more interest than just regular savings and like you said, it’ll prevent her from dipping into the computer savings.

CDs, I’m all for them!

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