I have never opened a CD before January 3, 2014. I made it one of my tasks to do for the year and I did it, took $10k of my hard earned money and parked it for a whole year, 365 days. My, time does go fast.
So, my grand total of the check was $10,095.00. Wow. I had a .95% APR for leaving my money in a 12 month CD. I had the option to roll it over for the current rate plus .5% but I passed since I want to try something new with my money. The point of a CD is long-term growth over time... right now with the funds I am saving, I am looking to purchase a home (next goal).
I am thinking I will start slowly with a CD and add $1,000 each year? We will see.
I was a bit bummed that I only made $95 when I ticket flip for more than $100 at a time... but leaving money untouched and secured was a good challenge and feeling knowing it was safe. I almost forgot about it (almost... lol).
What am I going to do with my $10,095.00? I have to pay a couple items off first... will put in next week's post and then I will keep in my contingency fund (everyone needs to have a safe fund at least up to 6 months living expenses).
I recommend giving Ally Bank a try with your money, again they are an online only bank which helps lower fees and bring up interest rates since they have not as much overhead as BofA or Wells Fargo.
http://www.ally.com/bank/savings/
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