Ask Terry Questions Savings — where?

Savings — where?

By Terry Savage on April 03, 2014 | Chicken Money

Hi Terry,

My husband has been out of work since February 2012. I’m currently working and we have two kids under the age of three. My question is we’ve been keeping money in a Capital One 360 account to pay for our taxes and daycare for our one child. Should we leave our money in there OR move some it to make a little on it? If you think it is wise to move it, where should what would you suggest?

Thanks Laurie

Terry Says:  This is truly the definition of “chicken money” — money you simply can’t afford to lose.  So leave it in an insured bank account (the Capitol One 360 savings account fits this definition as it is FDIC insured).   And I’m hoping that the economy is picking up some steam so your husband can find a job soon!

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