How much cash do I need and where should I keep it?
I mostly talk about long term investing and putting your money in the stock market. But we all should have a certain amount of cash on hand. While this is probably the easiest part or your financial plan to implement it is often the most ignored. This is especially true with interest rates so low. Most people assume that with interest rates so low it is not worth their time and effort to search for the best rate, but that is not true. If you have $10,000 in cash going from 0% interest to 1% interest means an extra $100.00 a year. Who wouldn’t like an extra $100 every year? So how long does it take and is it worth your time to earn the extra $100.00 every year? The reality is it probably will take you less time than you spend clipping coupons or driving to the cheaper gas station to save 50 cents here or $1.00 there. There are some online banks that will pay you 1% interest or more for a savings account. You can set up an account in 10 minutes and then link that account to your