With a new year approaching, there are compelling reasons to open both CDs and high-yield savings accounts now.
There are just weeks left in 2023 and many decisions to ponder, from the holidays to your goals for 2024. One of those goals, inevitably, will be to improve your financial situation . Because, no matter how well you likely did in 2023, there's always room for improvement. And a new year offers just that opportunity. But with inflation still stubborn and interest rates still high, you'll need to take a more judicious approach than you may have at the start of a different year.
Plus, even if rates go higher, you could always ladder multiple CD accounts to expire at different times, allowing you access to funds you can then use to open new accounts at higher rates.See what CD rate you could qualify for here now.When a high-yield savings account may be better heading into 2024On the other hand, if you think the era of nonstop rate hikes hasn't quite ended, then a high-yield savings account may be better for you to open now.
2024 Financial Situation Goals Improvement Inflation Interest Rates
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