Valued Contributor
Posts: 2,828
Registered: ‎08-13-2009
Re: Hop in! On my way to a 100k!

Dawnstream - Welcome!   And yes, a CD every payday is much more fun than worrying about the credit score or worried about too much in the bank account.


I have an excel chart that tracks each CD and when it matures.  I am blessed that the CU allows me to continually add to any CD that is open.  So I have been adding to those now with loose change.  My goal is to (eventually) get their balances up to 2k.   But for now, I am stretching for $200 balance on each CD in addition to opening a new one each payday.   


I do count my total CD balances (if they are regular CD's) in the big plan for a 100 grand.   If they are IRA CD's (and I have a few of those), they are NOT included in my total.   The reason being I can't easily access those without stiff penalties to the IRS.   


Since I started the CD game, I have managed to save an astonishing 19k+!!   I know, right - awesome???   And that doesn't count the 3k I bought my youngest as a graduation gift.   He will be able to access it when he completes a BS or equalivent (sp) college degree.  It's meant to be seed money to get his own place or to help with another degree.


Have you sent a monetary goal to reach with CD's?   Are you laddering them so you have some that mature next year and in the years following?