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Does anyone use for emergency savings?
Does anyone use for emergency savings?
+5
votes
asked
Dec 29, 2019
by
bryson
(
220
points)
Does anyone use for emergency savings? Any input is appreciated, thanks.
https://worthybonds.com/
emergency
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4
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0
votes
answered
Dec 30, 2019
by
howdoyoudo
(
580
points)
I put 20$ in it but it took a month to go through. You do earn 5% interest for 3 years but note that your interest does not build interest from these you can have it buy another bond every time your earning reach 10$ to continue the 5% growth. The reason your bonds take longer to go through is some one has to barrow the money you to get the bond. The only thing I do like is that you get your earnings every day so if you have $7500 you would be earning a 1$ per day or at $730000 earning $100 but for me I’m not putting my money into it I haven’t tried to take my money out but I don’t think the money would be able to be cashed out quickly I dont know
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0
votes
answered
Dec 30, 2019
by
ways
(
4.9k
points)
Planning to put around $5k into it. I have $10 in it now. You do earn compound interest you just have to set that up in the settings. Mine went through right away. Personally I don't think emergency funds need to be hugely liquid so this seems like a good option. Can report more after my $5k goes through.
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0
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answered
Dec 30, 2019
by
vegetation
(
6.3k
points)
Very curious to see how liquid this really is, but for sinking costs with a known timeframe it might make a lot of sense. another maybe crazy thought - what if you put your extra mortgage payments in this, at 5% instead of your mortgage at 3. X%?
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0
votes
answered
Dec 30, 2019
by
bryson
(
220
points)
@
margravine6136
how quickly could you get your money out in case of an emergency?
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