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April Savings

May 2nd, 2015 at 07:18 am

Received $50 bank interest for the month of April.^^

Redeemed $50 credit card rewards (cash back) from our gas/grocery card. Deposited this snowflake into investments.

Redeemed $27 cash back on Citi card. Deposited this snowflake into investments.

Savings (From paycheck):

+$200 to investments
+$300 to cash**
+$900 to IRAs

**I did pull out $1,800-ish for Japan expenses. (All this Japan stuff had been saved up last year, so am not considering it a step backwards for this year's savings).

Short-Term Savings (for non-monthly expenses within the year):

+$1,300 to cash
-$535 for Dentist/Ortho (for 3)
-$400 Summer class for LM
-$150 new glasses for LM

^^Monthly interest peaked this month. I have a 6% CD that matures this month. I can probably renew at 3% but you can only put $500/month into the CD and I have to pay a $35 annual fee to be eligible for this CU. That last part makes it not very worthwhile and it was kind of a pain anyway. (Membership was free for the first year). So I look forward to closing this account and simplifying. Between this and huge Chase checking incentives, I haven't really been paying attention to interest rates. I will probably close this account (and already closed the Chase accounts in December) and will shop around banks/CUs a bit. Probably look at what other CDs are out there right now. I don't expect much but may consider the Ally "raise your rate" CDs since we are so flush with cash. We could maybe just throw our emergency fund into that. I will check terms and pros and cons and other CDs before deciding for sure.

We have about "3 months" of emergency fund that I don't see ever using outside of an extreme emergency, so I think that money is appropriate for a CD. We haven't been this cash flush in recent years so haven't wanted to tie up much in CDs to earn a whole whopping extra 0.25%. But with our current situation it makes more sense to do that. (We also have lots of additional cash that we will not tie up in a CD).

1 Responses to “April Savings ”

  1. FrugalTexan75 Says:

    I made about $9 in interest this month. Smile Look forward to when I can make $50 interest in a month. Big Grin
    I haven't seen any CD rates that beat what I'm getting with Barclay's Dream account - at least not for the amount I'd have to put in. 1.05% compounded daily with 6 month bonuses if you haven't touched it. You can only add $1000/month to it though. (I currently add $50/month to it and keep the rest of my EF in the Barclay account earning 1%)

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