If you are like me, the gloom and doom surrounding our economy right now is a little overwhelming. Even though I have money in the typical checking and savings accounts, I am not so sure that it's the best place to keep it. Since a piggy bank is out of the question where do I turn? This is a matter of opinion for many people and a great topic for discussion. Good Morning America recently featured Janet Paskin of Smart Money magazine. According to Paskin, the three ideal choices for storing your cash are:
1.CD's (Certificates of Deposit)
2.Money Market Accounts
3.Savings and Checking Accounts
Option one allows you to store money for a fixed term and usually with a fixed interest rate. Option two is considered a high interest checking account while option three offers the lowest interest rates.
If you are interested in learning more about these options we have provided a link to the segment below:
http://abcnews.go.com/Video/playerIndex?id=732915
Where would you stash your cash? Do you agree with Janet Paskin? Let us know what you think and we'll post it.TTFN,
Savvy Student
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