topic Re: Where to put some extra cash for a little while in Personal Finance

Where to put some extra cash for a little while

Anonymous — Sun, 25 Sep 2016 04:33:56 GMT

I've posted my situation a few times so far across different sub forums. I received a settlement from the VA in July. I also receive disabilty from them monthly and that is my only source of income and it isn't enough to cover my bills. I will be applying for ssdi and trying for 100% with the VA currently 70% disabled. I started with 58k and change and I'm now at 48.8k.

I have to put out another 1k this week for moving expenses. 3k with a deep discounted vehicle purchase from gf/fiance's father selling me a vehicle. Hoping to apply and get accepted for a Discover secured card and I'll put 2.5k for that so that leaves 42.3k left.

I currently have this money in a money market account with my local credit union and each month my rate keeps dropping currently at .45. I want to earn a little more than that but still be able to withdraw as I need, I have no restrictions now where I'm at.

I need some investing advice on where I can put this money and still have a reasonable amount of easy access and remain liquid for bills and paying off debt. I plan on keeping at least 35k untouched. So please any suggestions on where I can find advice or where I can bank, investing is out of my scope of practice and I am way out or my depth.

Re: Where to put some extra cash for a little while

Gmood1 — Sun, 25 Sep 2016 06:48:48 GMT

You can go here https://www.depositaccounts.com/checking/reward-checking-accounts.html
and research rewards checking accounts.

This sounds like what you need. You want access but still have a decent APY.
Most of them top out around $25k. Some have a secondary account called Kasasa Saver where the rest of the money can spill over up to a set amount and still earn 1.0 %.
I'm a member of one CU that offers that (Xcel CU).
All you have to do is use the debit card 12 times a month to receive the benefits. It doesn't matter how much those transactions are.
Basically you'll earn 2.01% on $25k and another 1% on the other $10k.

Xcel is just one of many. There are plenty of others that offer something similar.

Re: Where to put some extra cash for a little while

Anonymous — Sun, 25 Sep 2016 12:39:50 GMT

Thanks gmood I'll check them out, I appreciate it.

Re: Where to put some extra cash for a little while

9CLINE — Sun, 25 Sep 2016 19:05:30 GMT

Great question as I too was interested in same info... Best wishes with disability(ssdi) and don't get discouraged with them just keep pressing sometimes they are very slow moving....
@Gmood1.... thanks for link.. good info there...

Re: Where to put some extra cash for a little while

Anonymous — Sun, 25 Sep 2016 19:30:36 GMT

@9CLINE wrote:
Great question as I too was interested in same info... Best wishes with disability(ssdi) and don't get discouraged with them just keep pressing sometimes they are very slow moving....
@Gmood1.... thanks for link.. good info there...

Thanks, sometimes you have to admit when you just don't what the best plan of action is and with anything above 20k I am clueless.

You know after dealing with the VA for years, I know how frustrating these things can be, I will do my best to not let it get me down Thanks for the support!