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How We Frugal-ed in June 2023

Family Balance Sheet

My goal has always been to live well on less while achieving our big financial goals. We are in what I call our “shovel season of life” Our oldest daughter leaves for college in the fall of 2024 and we have a big savings goal to hit before then. Frugal living is not about deprivation.

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Why Save Money in a Low Interest Rate Environment?

Prairie Eco-Thrifter

Although we think of the Great Recession starting in early 2009, it wasn’t until 2013 that the 5 year CD interest rate fell below 1% – and has stayed there ever since according to Bank Rates interest survey data. To me, money in a CD or savings account has always been for specific shorter term goals.

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23 Passive Income Ideas To Help You Make Money In 2023

Savings Corner

And if you’re worried about being able to save enough of your earnings to meet your retirement goals , building wealth through passive income is a strategy that might appeal to you, too. Try Bankrate’s free AdvisorMatch service to quickly get connected to a CFP® professional who can help you achieve your financial goals.

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7 Best Investments in 2024

Savings Corner

Certificates of deposit A certificate of deposit, or CD , is a federally insured savings account that offers a fixed interest rate for a defined period of time. Best for : A CD is for money you know you’ll need at a fixed date in the future (e.g., As with other types of investments, don’t buy a CD with money you might need soon.