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Home > $2,603 transferred to my high yield account

$2,603 transferred to my high yield account

July 30th, 2007 at 02:09 am

It's been a few months since I had any "extra" money build up in my checking account. This was largely because I had laid out money for numerous things that I would ultimately get reimbursed for. Well, I finally got all the reimbursements and the checking account balance plumped up nicely. So last night, I transferred $2,603 from my non-interest bearing checking account to my 5.03% money market account. I figured out that just that transfer alone will earn me an extra $131.00 in interest in the next year. After we get back from vacation in a few weeks, I'll sit down and see if buying a CD might be better to lock in a higher rate for the next year to earn even more.

4 Responses to “$2,603 transferred to my high yield account”

  1. Ima saver Says:
    1185802230

    Good for you!

  2. Aleta Says:
    1185898768

    I would certainly consider a CD, because it looks like the rates may go down some more. I say anything over 5.00 is decent. Good luck with your choice!

  3. disneysteve Says:
    1185901372

    I agree, Aleta. I probably should do it now and not wait until we get back.

  4. Aleta Says:
    1185906761

    I don't have much choice. One of my CD's is a 7 month CD and will come due late in September. It had a 5.31 apr, with a 5.45 apy. Would be great if that rate was still there in September. If I had anything coming due now, I would reinvest and look for the best rate possible for a longer term than 7 months. The other one was for 5.60 (APY) but for a 11 month term.

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