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Posted in Saving Money
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rbb1955

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just inheirted $. what to do with it short term

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highest interest short & mid term $

I received some money, and would like to save some short term (3-6 mos.) and some longer term (8-12 mos.)

I've read that online banks give higher interest on CD and money market accounts, and that otherwise both these types of accounts are about the same and both are FDIC insured. Where can I research interest rates at the various banks?

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Depends on where you are, financially!

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Do you have debt?  High rate credit cards? A mortgage?  Want to buy a house in the near future?  Enough money put away for retirement?

I'd suggest starting with paying down any high rate debt.  Once that's done if you still have money, I'd look at savings - so you have all of your emergency funds stocked?  After that, it become much more fluid.  You could make a large lump sum payment to a mortgage, which would lower the cost.  You could buy a new car or take a vacation...

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