Maybe. Here’s what we know so far.
Walmart may be about to shake up the way we pay for groceries, and this time it could actually put money back in your pocket. According to TheStreet, the retail giant just announced a partnership with Mastercard to launch new credit cards this fall, but it’s not just another store card cluttering your wallet. Walmart plans to create two distinct credit card options through its OnePay fintech…
This is not a trick question.
Paying off your credit card balance in full is often considered one of the smartest things you can do for your financial health. It avoids interest, lowers your credit utilization, and signals responsible behavior. But in some cases, even this seemingly perfect habit can work against you. Credit cycling might appear to be a useful workaround for low credit limits or as a way to earn extra…
A lot of people hear “CD ladder” and assume it’s only for folks with big bucks to invest. But the truth is, you can build one with just $5,000.
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You’ll earn more interest vs. keeping that money in a plain old savings account. And you won’t keep all your money locked up for years.
If you’re sitting on a few thousand bucks right now, here’s a simple three-rung CD ladder strategy to put your money to work.
A CD ladder is where you split up your money into chunks, and then put each of those chunks into a different CD.
The goal is to spread out your money over different terms, so bits of your cash become available at regular intervals.
This gives you two big advantages:
It’s a win-win if you want to grow your savings without having to wait years to tap them.
Here’s an example.
Using today’s best CD rates, let’s split $5,000 across a 1-year, 2-year, and 3-year CD term. Here is what that might look like and how much interest would be earned:
| CD Term | Deposit | APY | Interest Earned |
|---|---|---|---|
| 1 Year | $1,500 | 4.50% | $67 |
| 2 Years | $1,500 | 4.25% | $127 |
| 3 Years | $2,000 | 4.00% | $240 |
At minimum, you’d earn a total of $434 over three years. But you could earn more if you continued to re-invest each year.
When the 1-year CD matures, you can either cash out or roll it into a new 3-year CD. Then, repeat each year. Eventually, you’ll have an ongoing ladder where one CD matures each year, but all are earning the highest long-term rates available at the time.
Choosing the right bank is pretty important. Ideally you want to get all your CDs from a single bank that has top rates, low minimum deposits, and a variety of term lengths. To get started, check out our picks for the best CD rates available right now and build your own ladder in minutes.
You can split your money evenly, or pick a different amount for each CD term. There’s no right or wrong way to do it — your strategy should be based on when you want access to your cash again.
The goal is to get the most bang for your buck while keeping your money safe and secure. Look for strong APYs, low minimums, and enough term variety to fit your ladder. Make sure the bank is FDIC insured for peace of mind.
Once you’ve picked your terms and provider, open your CDs and start earning that interest! Be sure to set reminders for when each CD matures so you can decide whether to cash out or reinvest.
Ready to give it a shot? Start by comparing today’s top CD rates and see how far $5,000 can go.
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Do they work?
The federal government offers 24 financial literacy programs for older Americans, but almost none track whether they actually help anyone make better money decisions. That’s the concerning conclusion of a report from the U.S. Government Accountability Office (GAO-24-106381), which examined how Washington supports seniors navigating increasingly complex financial choices. Out of 24 federal…
The Federal Reserve’s next meeting is scheduled for June 17-18, and most signs point to no change in interest rates — for now. According to the CME FedWatch Tool, futures traders see a 99% chance that the Fed will keep rates unchanged at its next meeting.
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That means while CD rates probably won’t drop immediately, they could start slipping soon — especially if the Fed hints that cuts are coming later this year.
Here’s why now may be the time to lock in a top CD rate.
CDs tend to follow the Fed’s direction. When the Fed raises or lowers its benchmark rate, banks typically adjust CD rates by a similar amount. If rate cuts are on the horizon, CD yields may fall too, sometimes even before cuts happen.
Right now, short-term CDs (12 months or less) are offering some of the best returns, with APYs as high as 4.60%. These rates are still near the highest we’ve seen in years, but they may not stick around for long — which means now is the time to invest.
Want to start earning today? Check out our full list of the best CD rates available now.
Even if the Fed holds rates steady this month, many still expect rate cuts later this year. That gives banks a reason to start trimming CD rates early — and some already have.
Waiting too long could mean missing out on today’s high yields. Unlike high-yield savings accounts, which can change rates at any time, a CD locks in your APY for the full term. That can be a smart hedge if you expect rates to fall.
So if you’re sitting on extra cash and want a safe return, this is your window to act.
CDs make the most sense if you have extra cash you won’t need right away and are looking for a safe, guaranteed return. They’re ideal for savers who value stability and don’t need immediate access to their funds.
You might want to open a CD if:
If that sounds like you, opening a CD today could be a smart move.
The Fed’s June meeting probably won’t bring a rate cut, but it could set the stage for one later this year. And once that shift begins, CD rates are likely to fall in kind.
Want to secure your return? Open a top-paying CD today and lock in your rate before it’s gone.
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.
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This American entrepreneur is sounding the alarm on a “Red Rural Recession” sparked by federal funding cuts.
Mark Cuban is spotlighting growing financial trouble in rural America, warning that federal budget cuts could trigger a wave of economic strain in small towns across the country — and the story is still unfolding. In a recent post on BlueSky, the entrepreneur and Shark Tank star coined the term “Red Rural Recession” to describe mounting pressure in communities that rely heavily on federal…
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