+5 votes
by (220 points)
Does anyone use for emergency savings? Any input is appreciated, thanks.  
https://worthybonds.com/
Does anyone use for emergency savings?

4 Answers

0 votes
by (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
0 votes
by (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.  
0 votes
by (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%?  
0 votes
by (220 points)
@margravine6136 how quickly could you get your money out in case of an emergency?  
The Personal Finance Group is where you can always find questions, answers, advice, reviews & recommendations from other community members about investments, budgets, retirement, credit, and personal finances.
...