When you need your money short term, think in terms of a money market. You can make some interest and still have access to your money when you need to. These types of accounts are great for emergency funds.
Checkout the rates in your area:
Checkout this blog for rate information:
I currently have a money market and it is slowly paying less and less interest. I started at 4.75% interest and it dropped to 4.410% on January 1st and it reset again on January 22nd to 3.928%. The interest rate reductions are killing my return on investments. It is time to start looking for another account.
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