CD Rates and Savings Accounts in the News: April 14

April 14, 2009
By MoneyAisle

With tax day almost upon us, some of you may be getting a return check from Uncle Sam. Here are some interesting articles from around the Web on how to deal with this new influx of cash.

SmartMoney has a rundown of 6 Smart Ways to Spend Your Tax Refund

Conventional wisdom used to be that keeping three to six months' worth of living expenses in a savings account for an emergency was the way to go. But with today's unemployment rate at a 25-year high, you'll need an emergency fund that can cover at least six to nine months of expenses, the amount of time most laid-off people now need to get back on their feet, says Sheryl Garrett, founder of the Garrett Planning Network, an international network of fee-only financial planners.

On a similar note, the Baltimore Sun has some advice on creating a cash cushion during tough economic times.

Some may have considered 401(k) accounts or home-equity lines as emergency money. But the market crash and housing meltdown wiped out a massive chunk of those resources.

Besides, experts have never encouraged people to borrow from their retirement nest egg -- a risky gambit that often can backfire. It is even more risky with the huge losses most 401(k) accounts took in the market crash.


  • Featured In:

  • The New York Times: Do I Hear 4%? On This Site, Banks Bid for Your Cash
  • CNN: Auction money for best rates
  • The Wall Street Journal: Want the Best CD Rates? Hold an Auction.
  • AARP Bulletin: Save a Buck: Find Highest Interest Rates Online
  • Safe CDs, checking accounts for investors scared of stocks
  • O: The Oprah Magazine
  • Boston Globe: Website lets banks bid for customers
  • CNBC: Banks Bid for Your Cash
  • MIT Technology Review
  • Money Magazine
  • Reader's Digest
  • FOX Business: Bidding for Your Money

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