Reply
Established Member
Rysiir
Posts: 13
Registered: ‎03-30-2009

Vacation Savings

Recently I have reached a point where debt is nearly vanquished and would like to begin employing some kind of strategy for annual vacation savings. I am curious as to what kind of strategies you all use for short terms savings like this as far as High-Yield savings, MMA's, CD's, etc...

 

I'm not talking about huge money, maybe 3-5k annually. Just trying to figure out the smartest way to do it, and perhaps feedback on banks/products others have used to this end.

 

Thanks!


Starting Score: EQ: 635, TU: 623 EX: ???
Current Score: EQ: 789, TU: 783, EX: 773 (FAKO)
Goal Score: 800+ on ALL


Take the FICO Fitness Challenge
Established Contributor
bettercreditguy1
Posts: 760
Registered: ‎02-11-2012

Re: Vacation Savings

Pay yourself first! Open a savings account, place money into it weekly, monthly, however. Never touch it except for vacation!. I know of one CU that offers a goal saver cd. The unique thing is you set the goal name and open it up. You can actually add to this cd. It is fun to watch it grow. Plus since it is a CD you can not cash it out until maturity.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)


Remember the Three P's: Pay early in Full, Pay on Time, Patience

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}