Question for my Cash guysm?

greenblood

Ideally collecting interest shouldn't be the primary goal here. Like you said, this is a rainy day fund. Even if it doesn't collect any interest, it's serving it's purpose. I kind of think an entire year is a little much considering you can cut back expenses and make 6 months last close to a year if you had to. But really, just don't touch it, and any additional funds you have dump them into credit card, car, trailer, or school debt. The interest you are saving by paying these off will at least keep up with the market all day long.

YellowSnow

greenblood said:

Ideally collecting interest shouldn't be the primary goal here. Like you said, this is a rainy day fund. Even if it doesn't collect any interest, it's serving it's purpose. I kind of think an entire year is a little much considering you can cut back expenses and make 6 months last close to a year if you had to. But really, just don't touch it, and any additional funds you have dump them into credit card, car, trailer, or school debt. The interest you are saving by paying these off will at least keep up with the market all day long.

Good points. We have no debt other than a mortgage and intend to keep it that way.

FireCohen

Banks run various promotions for deposits. Citi is giving out $700 for 50k deposit - currently moved my cash there. Also Marcus has no penalty cd that will get you 10 bps more just moving it there