Money Matters
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Question about CDs
What, exactly, is the appeal? The rates don't seem as good as you can find with certain online savings accounts (e.g., Capital One 360), and they lock up your money for a term. Am I missing something? Just trying to figure out if there's some good reason for me to consider getting one.
Thanks!
Re: Question about CDs
In the past, I think they were a little more appealing. The interest rate used to be higher. If you locked in at the right time, then it could protect you from falling interest rates. Plus, some people like the security of knowing it is FDIC insured.
I agree with you though, right now in this low interest environment, it is not appealing.
"You know you're in love when you don't want to fall asleep because reality is finally better than your dreams." - Dr. SeussThe big appeal is that as long as you leave the money in for the full term, you are guaranteed a return. This is not the case with accounts associated with the markets (you can lose money).
5 cats. 1 baby.
I have my childhood life savings in CDs. Currently, they are earning 1.83% through our credit union (almost triple what our on-line savings is earning through Capital One). My parents always kept this money in CDs for me growing up (gifts from relatives, etc.), and my husband views it as "my" money and does not want me to use it for anything other than something just for "me" (not our house, cars, savings account, etc.). So, I don't know what I will ever spend it on because we take care of all of these expenses jointly.
My parents are very conservative investors, so this is the only way that they ever invested money growing up. I guess it's a psychological thing for me to just leave it in a CD because that's where it's always been and I know that it's safe and where my parents and family would have liked to see it.
I've never "needed" the money, as we have comfortably been able to afford to pay for graduate school tuition, undergrad student loans, vehicles, our home, saving for retirement, and home improvements without it (though very good budgeting and careful money management--we're not "loaded," by any means).
So, I guess it will just sit there and accrue interest until "I" am ready to spend it.
I don't know if that answers your question, but it's kind of the rationale for why I have money invested in a CD separate from the rest of our joint savings, etc.