RetiredGypsy
Full time employment: Posting here.
- Joined
- Mar 17, 2008
- Messages
- 979
I've been debating setting aside funds in mulitple savings accounts on my Capital One 360 account to save for known future expenses. Things like tires, 12k motorcycle service, 60k service, whatever. I'd get .75% interest there.
I'm weighing that against investing the money now and just paying for each item when it comes up. I can't find a short term CD rate that'll get me .75%, so it seems either stocks or highest interest savings accounts are the way to go.
Or maybe it should all just be lumped into a emergency fund that gets replinished once something needs done?
Since the time frame on each are fairly short at a couple years out at most, and I could cover the expenses when they're due, I'm not sure what option is the best. My goal would be to make the money work as hard as I could until it needed to be spent.
Any suggestions?
I'm weighing that against investing the money now and just paying for each item when it comes up. I can't find a short term CD rate that'll get me .75%, so it seems either stocks or highest interest savings accounts are the way to go.
Or maybe it should all just be lumped into a emergency fund that gets replinished once something needs done?
Since the time frame on each are fairly short at a couple years out at most, and I could cover the expenses when they're due, I'm not sure what option is the best. My goal would be to make the money work as hard as I could until it needed to be spent.
Any suggestions?