How to Use A CD to Grow Your Savings Ep 32
About this episode
This episode explains how certificates of deposit work and their advantages over savings accounts.
In this Good Money Moves episode, we explain how certificates of deposit (CDs) work, when a CD beats a savings account, and how to choose terms without locking up too much cash. You will learn early-withdrawal penalties in plain English, insured deposits, how interest is paid, and how to build a simple CD ladder for goals like taxes, travel, or a down payment. We also cover auto-renewal, grace periods, and how much to keep in your emergency fund vs. a CD.
More episodes of Good Money Moves
- HELOCs vs Home Equity Loans: What They are and How They Differ Ep 33
- First Paycheck Playbook: Pay Yourself First, Automate Savings, Build an Emergency Fund Ep 30
- What is a Money Market Account? E29
- Your Invisible Paycheck: Understanding Your Employee Benefits E28
- Emergency Funds: What You Need to Know E27
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