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Tips To Make Money On Your Savings In 2011

Ken Tumin
Ken Tumin   |     |   5,734 posts since 2009

This CNNMoney.com article, Make Money in 2011: Your Savings, has a couple of useful tips. Here's one:

Spread out your bets. While you wait for rates to perk up, you can squeeze out extra yield without locking up your cash by using a strategy called a barbell. Divide your savings among very short-term vehicles, like savings accounts and six-month CDs, and longer ones, like four- and five-year CDs, for a higher average yield.

However, I don't see much benefit from going with 6-month CDs over internet savings accounts. The 6-month CD rates are just not high enough. Also, savers should consider high-yield reward checking accounts which remain a good alternative to internet savings accounts.

SaveYurMoney   |     |   8 posts since 2010
I agree that 6 month CDs are not of much value right now.  When my current 6 month CD expires (in March ,11) I'm going to find a better short-term investment. I winder what rates will be at that time???