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.
$2,603 transferred to my high yield account
July 30th, 2007 at 01:09 am