Confound it!

I’ve been opening new 6 month CDs on INGDirect every pay period and using that as my Emergency Fund. The one I opened back in November, when I started this plan, is at 4.8%.When I  heard about the last interest rate cut, I bounced over to my account and opened one for the next pay period at the old interest rate  (3.5%).

Well, I just heard about the NEW interest rate cut and quickly ran over to INGDirect.

Interest rates on 6 month CDs are now 2.75%.

They haven’t made the adjustment to savings account interest rates yet, but expect that any moment now.

*grumble grumble should pull it all out now and take the interest penalty spanking and put it in the one near my house that’s 4.0%*


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