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"Is it me, or are bank interest rates going the way of the dinosaur? And I&amp;#039;m not just talking about regular savings accounts. The interest on money market accounts, which had been the go-to place to stash your cash when you wanted safety, accessibility and decent growth, is dropping just as fast. I&amp;#039;ve tried to be pretty smart about my money, spreading it around in various accounts: Money markets, CDs, IRAs. But lately I wince whenever I get my money market statements because the interest rates have dropped from highs of 4% to as little as .75%. And let&amp;#039;s not even get into regular savings. Barely at .50%? Are you kidding me! I shouldn&amp;#039;t be surprised though. The recession, the credit crisis, the Wall Street mess, the bank bailout\u2014all of it has contributed to the situation. The question I&amp;#039;m grappling with now is what to do with my money market cash. I&amp;#039;m thinking of shopping around for other banks that have better rates. Financial experts say online banks are a good option because they typically offer higher rates and don&amp;#039;t have minimum balances (just make sure they&amp;#039;re FDIC-insured.) I&amp;#039;m also considering putting a bigger chunk of my money into short term CDs, say six months. I&amp;#039;ll get a higher yield than I&amp;#039;m getting now, and while I&amp;#039;ll have to wait a while before I can access it (unless I want to get hit with a penalty fee), at least my money will once again be making money. \u2014Angela Ebron, Articles Director Tip of the Day: Check out bankrate.com to find banks that offer the highest savings rates. "^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.womansday.com/life/a41517/interest-extinction-5025/?src=shelter_footer>