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Why I’m Not Opening Any CDs in 2024

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Have you seen how high the APYs have gotten on certificates of deposit (CDs)? As of Jan. 21, 2024, some of the offers on our best CDs list were offering rates of up to 5.51% APY! With the Fed (possibly) getting ready to cut interest rates, now could be a good chance to lock in a high yield on a CD. But even though the APYs are tempting, I’m not convinced that opening a CD is the right move for my personal finances. And CDs might not be the right option for you, either.

Reasons Why I’m Not Opening Any CDs in 2024

  1. Lack of Flexibility: I don’t want to lock up my money in a CD. Instead of a CD, putting your cash savings in a bank or credit union savings account gives you flexibility for using that cash.
  2. High-Yield Savings Accounts: The best high-yield savings accounts pay high APYs too. With a high-yield savings account, you get APYs almost as high as (and sometimes higher than) the best CDs, the freedom to withdraw your cash at any time, and no early withdrawal penalties.
  3. Not a Good Long-Term Investment: CDs aren’t a good long-term investment. I’m still at an age and stage of life where I basically think about investing in terms of two buckets: short-term cash and long-term investments.

Is $10,000 Too Much to Keep in a Savings Account?

Saving $10,000 is a huge milestone, and it’s worth celebrating. That kind of money can solve a lot of problems. But it also raises some important questions, like where’s the best place to keep that kind of cash?

CD vs Traditional Saving: Which is Better?

Comparing CDs and traditional savings

It’s a question I get asked quite often: should I put my hard-earned money into a CD or a traditional savings account? The answer, as with many financial decisions, is it depends. Let’s dig a little deeper.

A CD has a set term—from a few months to several years—and generally, the longer the term, the higher the interest rate. If you can afford to put your money aside for a long term without touching it, a CD might be an excellent choice for you.

On the other hand, if you’d like more flexibility or think you might need to access your funds sooner than the term of a CD, a high-yield savings account might be more your speed. These accounts often offer competitive interest rates, and the big advantage is that you can usually withdraw your money at any point without penalty, something not usually possible with a CD without incurring a penalty.

The Bottom Line

It’s important to remember that every financial move you make should be based on your personal circumstances. I believe that tying up your money in a CD for the long-term isn’t ideal for everyone, and there are equally, if not more, beneficial alternatives such as a high-yield savings account. However, if you have a large amount of savings and want to earn a higher interest rate without the risks associated with investing in the stock market, a CD can be a great choice. Ultimately, you know what’s best for your financial situation. Just be sure to weigh your options carefully before you decide.

Weighing your financial options

Whether you are deciding between opening a CD or maintaining a regular savings account, or wondering about the best place to stash your $10,000 milestone savings, it is imperative to consider your financial goals and circumstances to make the best decision. And while CDs might offer attractive rates, flexibility, and potential for higher returns could tip the scales towards high-yield savings accounts in 2024.

Remember, the single best thing you can do with your savings right now is to make a well-informed decision that aligns with your financial goals and situation. After all, at the end of the day, every cent saved is a step forward to a secure financial future.

Setting Financial Goals: How Savings Can Help

Setting financial goals

Whether you’re dreaming of a down payment for a home, planning for your children’s future education, or setting money aside for a comfortable retirement, making the right choices with your savings can significantly impact your progress towards your financial goals. Below, we discuss how different savings strategies cater to specific goals.

If your goal is a short-term one, let’s say buying a car in the next year or two, a high-yield savings account might be your best bet. It provides easy access to your funds and still accrues interest, albeit not as much as a CD. However, the freedom to withdraw your money without any penalties is a defining factor here.

In contrast, if you have a long-term goal, such as saving for a child’s college education, a CD with a long-term tenure might be a better option. You get a higher interest rate, and the temptation to withdraw the funds is mitigated by the prospect of penalties for early withdrawal.

Adapting Saving Strategies with Changing Economic Landscapes

Changing economic landscapes

While we might have our savings and financial strategies writ in stone, it’s crucial to remember that the economic landscape continually evolves. Inflation rates fluctuate, interest rates rise and fall, and financial crises can occur. Being able to adapt your savings strategy in response to these changes can be instrumental in ensuring your financial stability and growth. For instance, if interest rates are expected to fall, you might want to consider locking in the current rates with a CD. On the flip side, if rates are on the rise, a high-yield savings account could be a better bet.

Final Thoughts

From locking funds in a CD to keeping money accessible in a high-yield savings account, each strategy comes with its set of advantages and downsides. The key is to find a balance that aligns with your financial goals, lifestyle, and the degree of risk you are comfortable taking. Keep in mind, especially in today’s turbulent economic times, the most effective savings strategy is one that is flexible and adaptable.

In conclusion, the best thing you can do with your savings right now isn’t necessarily about choosing between a CD or a savings account. It’s about making an informed choice that helps you navigate your way to financial security and meet your goals. Don’t forget, despite the lure of high-interest rates, your personal circumstances and financial goals should always influence your decision.

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5 Benefits of Retinol for Smoother, Younger Looking Skin

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Finding the right skincare ingredient can feel like searching for a needle in a haystack, especially with the endless options available. But there’s one ingredient that has earned its reputation as a must-have for smoother, rejuvenated skin: retinol. Whether you’re a skincare novice or a seasoned aficionado, retinol is a game-changer for anyone looking to enhance their skincare routine.

Backed by science and loved by dermatologists worldwide, retinol has a range of benefits that can help you achieve that coveted youthful glow. But what exactly makes this ingredient so special? Below, we outline five incredible benefits of retinol for your skin.

1. Smooths Fine Lines and Wrinkles

Retinol is perhaps best known for its anti-aging superpowers. A derivative of vitamin A, retinol works by stimulating collagen production, which naturally declines as we age. Collagen is the building block of firm, elastic skin, and boosting its production helps to reduce the appearance of fine lines and wrinkles.

How it works:

Retinol increases cell turnover, encouraging fresh, new skin cells to surface while improving skin texture and elasticity. With regular use, you’ll notice smoother skin and reduced signs of aging.

Pro-Tip: Start with a lower concentration of retinol to allow your skin to adjust, and apply it at night before moisturizing for best results.

2. Improves Skin Texture

If uneven skin texture or rough patches have become a constant frustration, retinol is your go-to solution. Thanks to its ability to encourage dead skin cells to shed, this powerhouse ingredient sloughs away dull, damaged layers of skin, leaving a refined, polished surface behind.

The result:

Softer, smoother, and visibly healthier skin. Over time, retinol gives your complexion a velvety appearance that makes makeup application easier and flatters your natural glow.

3. Fades Dark Spots and Hyperpigmentation

Hyperpigmentation such as sunspots, age spots, or post-acne marks can leave your skin looking uneven or dull. Retinol, with its resurfacing abilities, helps fade discoloration by accelerating the turnover of skin cells. With consistent use, dark patches lighten and blend into your natural skin tone.

Why this matters:

Brightened skin makes you look refreshed and radiant, with less reliance on concealers or foundations for coverage. Incorporate retinol into your skincare routine to keep stubborn pigmentation at bay.

4. Treats Acne and Prevents Breakouts

Struggling with stubborn acne? Retinol was originally introduced as an acne treatment, and it remains a go-to recommendation from dermatologists. Its exfoliating properties unclog pores and prevent the buildup of oil and dead skin cells that lead to breakouts.

Additional benefit:

Retinol doesn’t just address current pimples; it also reduces the likelihood of new blemishes forming, making it a preventative tool for clearer skin over time.

Pro-Tip: If you have sensitive or acne-prone skin, use retinol sparingly at first, as overuse can cause irritation.

5. Encourages Radiant, Youthful Skin

Think of retinol as a refresh button for your complexion. Its ability to boost cell turnover and collagen production ensures your skin stays vibrant and youthful. With regular use, you’ll achieve a natural glow that signals healthy, well-nourished skin.

Bonus:

Radiance isn’t just skin deep. The boost in confidence that comes from clear, smooth, and youthful skin can have a lasting impact on how you carry yourself daily.

How to Incorporate Retinol Into Your Routine

While retinol is a skincare superstar, it’s important to introduce it carefully:

  • Start slow: Begin by using retinol 1–2 times per week and gradually increase frequency as your skin builds tolerance.
  • Moisturize generously: Retinol can dry out the skin, so follow up with a hydrating moisturizer.
  • Stick to nighttime use: Retinol makes the skin sensitive to sunlight, so always apply it before bed and wear SPF during the day.

The Bottom Line

Retinol offers a wide array of benefits, from reducing fine lines and wrinkles to improving texture, fading dark spots, treating acne, and giving you that youthful, radiant glow. With consistent use, this ingredient can elevate your skincare game and help you feel more confident in your skin.

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How to Choose the Right Storage Unit for Your Lifestyle Needs

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Finding the perfect storage unit can feel like a daunting task. Whether you’re downsizing, decluttering, or in the middle of a major life transition, choosing the right storage solution can make your life significantly easier. But with so many options available, how do you pick the best one for your specific needs?

This guide will walk you through the key factors to consider when selecting a storage unit that aligns with your lifestyle and belongings.

Define Your Storage Needs

Before you start looking at storage units, take a moment to evaluate what you’re storing and why you need the extra space. Ask yourself these questions:

  • What types of items am I storing? Are you storing seasonal decorations, furniture, important documents, or even a vehicle?
  • How long will I need storage? Is this a long-term need or just a temporary solution?
  • Do I need climate control? Sensitive items like electronics, artwork, documents, and wooden furniture may require special temperature and humidity conditions.

Identifying your needs will help narrow down your options and eliminate units that don’t fit your criteria.

Choose the Right Size

Storage units come in a variety of sizes, and renting the wrong one can lead to frustration and wasted money. Here’s a rough guide to help you decide:

  • Small (5×5 or 5×10): Ideal for boxes, small furniture, and seasonal items. Think of it as the size of a walk-in closet.
  • Medium (10×10 or 10×15): Great for the contents of a one-bedroom apartment, including mattresses, appliances, and multiple boxes.
  • Large (10×20 or bigger): Perfect for storing the entire contents of a house, vehicles, or business inventory.

Not sure how much space you’ll need? Many storage facilities provide online calculators or on-site assistance to determine the right size.

Consider Location and Accessibility

The location of your storage unit matters, particularly if you’ll need frequent access to your belongings.

  • Close to Home or Work: If you’ll be accessing the unit often, choose a facility near your home or office for convenience.
  • Accessibility: Look into the facility’s operating hours. Does it offer 24/7 access, or do you need to plan visits during set times?
  • Loading and Unloading Features: Facilities with drive-up access, wide hallways, and elevators can make moving items in and out much easier.

Check Security Features

Your belongings are valuable, so security should be a top priority. Modern storage facilities offer a range of security measures to protect your items, including:

  • Surveillance cameras
  • Gated or keypad entry
  • On-site staff
  • Individual unit alarms

Make sure you feel confident in the safety of the facility and its ability to keep your items secure.

Think About Amenities

Beyond size and security, many storage facilities offer additional features that could enhance your experience. Some examples include:

  • Climate-controlled units: Perfect for protecting items from extreme temperatures or humidity.
  • Insurance options: Ensure your items are covered against theft or damage.
  • Packing supplies: Many facilities sell boxes, tape, and other essentials.

Compare amenities across facilities to find one that matches your specific needs.

Compare Costs

Of course, pricing will play a big role in your decision. While it’s tempting to go straight for the cheapest option, remember to weigh the costs against the features and convenience you’ll receive.

  • Check for hidden fees, like administrative costs or mandatory insurance.
  • Look for discounts or promotions for new renters.
  • Consider payment flexibility, such as monthly versus yearly contracts.

Read Reviews

Before making your final decision, take the time to read online reviews from other customers. They can provide valuable insights into the facility’s cleanliness, customer service, and overall experience.

Make Your Move Easy

Once you’ve chosen your storage unit, prepare your items for storage:

  • Use sturdy boxes and label them clearly for easy identification.
  • Pack fragile items with protective materials, like bubble wrap or blankets.
  • Create an inventory list to keep track of everything you’ve stored.

By choosing the right storage unit and preparing thoughtfully, you’ll not only protect your belongings but also make your life simpler and more organized.

Start Your Storage Journey Today

Selecting the perfect storage unit doesn’t have to be overwhelming. By following these steps, you’ll be well on your way to finding a solution that fits both your lifestyle and budget.

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Easy Weeknight Dinners Even the Pickiest Preschooler Will Love

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Feeding a preschooler can sometimes feel like you’re auditioning for a reality cooking show. With their ever-changing tastes and unwavering opinions on certain foods, dinner time can be quite the challenge. But don’t worry—we’ve rounded up a list of easy, quick, and nutritious weeknight dinner ideas that will win over even the pickiest of eaters.

Here are meals that balance simplicity, nutrition, and the fun factor that many preschool aged children need to feel excited about food.

1. Mini Chicken and Veggie Quesadillas

Kids love handheld foods, and quesadillas tick all the boxes. Use shredded chicken, mild shredded cheese, and sneak in finely diced veggies like red bell peppers, zucchini, or spinach. Grill until the tortillas are crispy, then cut them into small triangles. Serve with a side of mild salsa or plain Greek yogurt for dipping.

2. Build-Your-Own Mini Pizzas

Give kids ownership of their dinner by letting them make their own pizzas! Provide small pizza bases (or use English muffins, pita bread, or tortillas), marinara sauce, shredded mozzarella, and a variety of toppings like diced ham, mushrooms, and pineapple. Kids love the opportunity to “make their own” and are more likely to eat what they create.

3. Sneaky Veggie Mac and Cheese

Mac and cheese is a preschooler classic, but you can make it healthier with a few simple swaps. Blend cooked carrots, cauliflower, or butternut squash into the cheese sauce for added nutrients. The best part? The creamy, cheesy flavor stays the same, and most kids won’t even notice the difference.

4. Breakfast-for-Dinner Pancake Sandwiches

Turn a breakfast favorite into a dinner delight! Prep pancakes and fill them with a layer of cream cheese, sliced strawberries, and bananas. Pair it with scrambled eggs for a protein punch. This sweet-and-savory combo feels like a special treat while still keeping things balanced.

5. Easy Chicken Nuggets and Sweet Potato Fries

Make this classic kid-approved meal at home with a healthier twist. Coat chicken breast chunks in breadcrumbs (or panko) and bake them. Pair them with baked sweet potato fries that are lightly seasoned with cinnamon or paprika. Serve with homemade honey mustard or ketchup.

6. Colorful Pasta Bake

Pasta bakes are an easy, one-dish solution for busy weeknights. Use tricolor pasta for visual appeal, and mix it with a simple tomato sauce, a handful of baby spinach, and shredded chicken or turkey sausage. Top with mozzarella and bake until bubbly.

7. DIY Taco Night

Tacos don’t have to be messy! Use softer, smaller shells (or even lettuce wraps) for preschool-friendly portions. Provide taco fillings like ground beef or turkey, black beans, shredded lettuce, diced tomatoes, and cheese. Lay the ingredients out buffet-style so kids can assemble their own tacos.

8. Hidden Veggie Meatballs with Pasta

Meatballs are versatile and easy to customize. Blend veggies like grated zucchini or carrots into the meatball mixture along with ground turkey or beef. Serve with spaghetti (or zoodles) and marinara sauce. The veggies will be hidden inside, and the flavors blend so well that kids likely won’t guess they’re there.

9. Veggie-Loaded Grilled Cheese

Upgrade the classic grilled cheese by slipping in thin slices of roasted veggies like zucchini or bell peppers. Pair it with a bowl of creamy tomato soup made with a dash of heavy cream or Greek yogurt to make it extra kid-friendly.

10. Sweet-and-Savory Teriyaki Chicken Bowls

Kids love anything with a hint of sweetness, which makes teriyaki chicken a big hit. Serve grilled chicken coated in a mild teriyaki glaze over rice with steamed broccoli and carrot sticks. The balance of flavors and textures often wins over even picky eaters.

Wrapping It Up

Dinner time doesn’t have to feel like a battle! With these easy weeknight ideas, you can keep things simple while ensuring that even the pickiest preschooler leaves the table happy and full.

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