The first major step on the Family Finance Road Map to free yourself from credit cards and adding to your debt is to build an Emergency Fund. But where to keep that emergency fund is this week’s follower Ask Me Anything topic.
Every day, I get lots of great questions from followers across social media, in the Family Finance Moms closed Facebook group, via DMs on Instagram, and submitted to my Contact Me page. Some of these are questions I get in varying forms frequently and are worth sharing as a reply to help everyone. Each week, in the Ask Me Anything series, I’ll be sharing an actual question, straight from one of you, and a fully researched and detailed reply.
This week’s question comes from one of my Instagram followers and is about where to keep an emergency fund.Can I use a short-term CD for growing my emergency fund?