Thursday, August 6, 2009

Financial Advice

Advice about affording your wedding.....

If you are 6-12 months out from your big day, consider doing what we did..... I had a chunk of money that two weeks before we were engaged, I had stuck in a CD with Wachovia. I lucked out and stuck it in there just before interest rates plummeted, and managed to secure a 4.25% rate. That CD is about to mature in 2 weeks. I have made about $1000 just letting that cash sit there! This will help us out a bunch when it comes to write those big checks in a few short weeks!

You do normally have to have a minimum of several thousand dollars to be able to open one. DO YOUR RESARCH ON RATES! Don't think that YOUR bank has the best rate. I surely didn't shop around last year, I just stuck it in Wachovia bc that is who I bank with. I have been looking around lately to see who has the best rate so that I can stick out "leftovers" after the wedding back in a CD. Currently Citi Bank has the highest rates... just over 2%..... not great, but better than nothing!

Check out high interest checking accounts (I have a checking acct with Allegacy Federal Credit Union that pays out 6% when you complete certain tasks each month... they are simple too!)

Check out money market accounts too, if you think you'll be needing to pull money out periodically.

There are so many options out there, just do some research! It will pay you back!

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