Jennifer Calonia, Go Banking Rates financial expert, walks depositors through the five main benefits that a certificate of deposit brings, including minimizing impulsive spending.
“It may seem like locking savings into a deposit account is a bad idea,” says Ms. Calonia, “However, with so many Americans still struggling to get a starter reserve savings fund up and going, keeping money in a hands-off account like a CD poses a huge benefit to depositors who lack self-control.”
In addition to ensuring depositors commit funds toward their savings goal, Ms. Calonia explains how laddering CDs and reducing risk are key advantages of a certificate of deposit.
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Overall, CDs are a relatively simple and straightforward way to invest and save. Depositors can walk into their local bank or credit union to shop for a personal CD account.
Jennifer reports on personal finance, with a specialty in saving money, budgeting and lifestyle. She is available to comment on any of these topics and can be reached via e-mail.
About Jennifer Calonia
Jennifer Calonia is a reputed journalist covering personal finance subjects like banking, saving money and debt. Her features and helpful savings tips encourage and empower households across America to achieve financial balance.
Her work is featured in major publications like US News & World Report, Yahoo!, Yahoo! Finance, LearnVest, Business Insider, Can Do Finance and Consumerism Commentary. Jennifer’s next project, a column called “Breaking Up with Debt”, is scheduled to launch late-November 2012.
About Go Banking Rates
Go Banking Rates (GoBankingRates.com)
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