3 CD account mistakes to avoid in today's economy
In today's economic climate, savers should be aware of common mistakes when managing certificate of deposit (CD) accounts. With inflation rising and interest rates remaining high, understanding how to maximize returns on CD accounts is crucial. Avoiding these mistakes can help savers make the most of their investments.
- ▪Savers should avoid not shopping around for the best CD rates, especially from online banks.
- ▪Choosing a long-term CD over a short-term one can yield better returns due to compounding interest.
- ▪Depositing only what you can afford to lock away is essential to avoid financial strain.
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MoneyWatch: Managing Your Money 3 CD account mistakes to avoid in today's economy We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. Read Full Bio Matt Richardson May 21, 2026 / 3:09 PM EDT / CBS News Add CBS News on Google To boost their chances of CD account success in today's economy, savers should know which costly mistakes to first avoid.
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