10 scary savings mistakes and how to avoid making them
Don’t let the fear of saving leave you in the dark. Avoid these 10 savings mistakes.
Managing your personal finances need not be an arduous, daunting or taboo task (it’s easier than you think in this era of digital finance) – just take it step by step.
— Marc Wojno
Marc Wojno is a seasoned and accomplished finance editor and writer with more than two decades of experience editing and writing across a variety of news platforms including newswires, newsletters, magazines and online news sites. Marc has worked for such nationally recognized media organizations as The Kiplinger Washington Editors (publishers of Kiplinger’s Personal Finance magazine), U.S. News & World Report and Dow Jones. Before joining Bankrate, Marc was Senior Editor at CNET Money and Senior Editor of Finance for ZDNet, both Red Ventures companies, where he wrote and edited news articles and features on a variety of topics including banking, blockchain, credit cards, cryptocurrency, fintech, home equity, investing and taxes.
Marc has been featured as a personal finance expert in numerous local print, radio and television outlets throughout the country, including in such major markets as New York City, Chicago, San Francisco and Washington, D.C. He received both his BA in radio and television communication and computer science, and his MBA in international business and information systems, from The George Washington University. He’s also a member and former Board of Governor of The National Press Club.
Outside the realms of journalism and finance in the digital world, Marc enjoys solace in the analog, keeping all things past and present alive and well. A passionate film and music aficionado, Marc can be found around town enjoying live concerts and plays, spinning vinyl, threading reel-to-reel tapes, shooting film with his 16mm Bolex and hosting pub quizzes at the Press Club.
Managing your personal finances need not be an arduous, daunting or taboo task (it’s easier than you think in this era of digital finance) – just take it step by step.
— Marc Wojno
Don’t let the fear of saving leave you in the dark. Avoid these 10 savings mistakes.
Consumers move to interest-bearing accounts; banks increase funds for brokered CDs.
Shop around before you buy a two-year CD. The best rates for a certificate of deposit pay way more than the national average.
Historically, the best 3-month CD rates handily beat the yields offered on liquid accounts. Is this the best savings option for you?
Locking up your savings for a decade in a 10-year CD may be a smart move in some limited circumstances.
The best checking accounts are not only free, but may also offer you perks such as a high annual percentage yield (APY), out-of-network ATM reimbursement or free official bank checks. Here are the pros and cons of free checking accounts.
Find the best IRA CD rates from credit unions and banks by comparing APY, term, minimum deposit required and early withdrawal penalty charges.