CDs

I got a bit of money for Christmas, so I added it to my bank account where it joined deposited checks from my job and other gift money from a while back.  I really hate keeping too much money in my account because not only will I be tempted to spend it, I am also afraid that if my debit card is stolen, they can wipe out everything I have.  Also, it would be stupid to just leave that money sitting there when it could be gaining interest elsewhere.  So when it gets to this point, I like to purchase a Certificate of Deposit, or CD.  I have only done this twice before, because I want to leave enough money in my account for me to work with when I need it.  I got an okay rate for interest considering the economy, but I did not really shop around because I wanted to keep it at the bank I currently do business with.  I chose to reinvest the interest into the CD, that way it will earn more money each period.  Now I can watch it grow, even though it won’t be growing that fast.