Reply
Established Member
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
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
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.