Beating Broke

e-Trade, where I have my emergency fund, just announced that as of the end of the day on 12/19/08 the rate on their savings account will be dropping from 3.30% to 3.01%.

I can’t say that I’m all that surprised, and I expect several other announcements like this one in the next few days.  With the fed dropping rates and the bottom falling out, the rates could go a fair bit lower before we start seeing them go up.  Maybe it’s time to put the money into a CD instead?  I know that even locally the rates are better than 3.01%.  Of course, you’ve got to tie your money up for a few months.  Not that big of a deal when you’re talking about an emergency fund.  Something to think about.

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