The methods I teach come from my own experiences most of the time.  I am taking what has worked best for me over the years, adding little “tweaks” that may help those methods to work even better and putting them out within my Group and Coaching Clients.  All of that to say, I’m not a Financial Advisor nor do I talk much about investments, stocks and those type things BUT I do want to hit a little bit on CD’s.

I tend to think of this almost like a “pre-investment”.  If you aren’t quite ready to invest your money just yet but would like to put it somewhere that it will be earning you a little bit then I think CD’s are the place to start.  My advice on this topic is to talk to someone at your bank or credit union, they know WAY more about these than I do and don’t be afraid to shop around.  Depending on their need for deposits, different banks/credit unions will offer different rates on their CD’s so do your homework before diving in.  Also, keep in mind that this needs to be money that you can live without for a set period of time.  If you choose a 6 month CD then just know that you aren’t to touch this money until the end of that 6 month term.

I’m not saying this will get you rich but if you have some money sitting in savings that you can do without for awhile, it is a way to put it out to work for you earning usually a higher interest than if it remained in your savings account.