@saeren answered my first question and confirmed that the Pennyhoarder is in the same "adverting for dollars" boat with CK and probably many others, here is my next question.
With all things being equal, an emergency fund in place and IF there is no credit card debt to attack; IF one wanted to try to find a better starter place to try to grow the 1k investment of mattress money, which is a better starting place for this small investment? This maybe like the Popeye's chicken sandwhich wars question and which sandwhich is better; Merrill, Fidelity, a credit union, a CD, acorns or other?
Well, if it's straight up $1,000 then a DCU savings account will earn you 6.17% APY if you just let it sit there. Do you plan to contribute additional funds on a schedule? Are you strictly looking for the highest return on investment? How much liquidity are you looking for?
DCU is great. Also BECU 4.07% on checking, 6.17% APY on savings up to $500 each.
You'll want to search "high yield savings".
Thank you @KLEXH25, that sounds like way more interest than it is making in the mattress, lol! Yes, I would like to add to it, and while I would like to have the highest ROI, I do feel like with the possible rumblings on the horizon that I am reading about in the forum, having the maximum amount of liquidity is better for me right now. If using another vehicle for additional funds is a better option than adding to just this one, I am open to that as well.
Baby steps. I am just trying to get my eggs out of one basket, my little acorns out of the mattress and set up a better financial plan for myself and my family moving forward.
Thank you @allzero, I will check those two CUs. Navy has been amazing! They just called to say hi and welcome yesterday and so I signed DD for a savings acct. on a three way call.
It helps to have a direction and a goal. I will delve into that search for HY savings next.
@CreditobsessedinFL wrote:Thank you @allzero, I will check those two CUs. Navy has been amazing! They just called to say hi and welcome yesterday and so I signed DD for a savings acct. on a three way call.
It helps to have a direction and a goal. I will delve into that search for HY savings next.
Welcome to the Navy family
@AllZero wrote:DCU is great. Also BECU 4.07% on checking, 6.17% APY on savings up to $500 each.
I think this was brought up elswhere, but how many accounts can you have with them? At $500-1K max you'd have to have several accounts to see a decent return?
