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By FinanceBuddy Staff Writer
In these difficult financial times, everyone is looking for the best place to put their money. The stock market, the traditional answer for this question, has been discredited, if only in the short term. The real estate market, which has always been a good choice, is suffering from the credit crunch. The mattress, the haven of the scared and cowardly, well, only appeals to the scared and cowardly. Your money must go somewhere, and you want it to be safe; what then is the best choice? The bank does not provide a good option, as the interest rates are minimal at best. They do provide certificates of deposit (CDs), however, and these can be long to short term, and offer significantly better rates of return. Who offers the best deal, though? Where can you go to find out who has the best offer? Your local bank is the best place to start, but you will probably not finish there. Still, banks often have promotional rates, so it is good to inquire. At the least you will begin to discover the current market. After this, it is best to look online. Bankrate.com offers up-to-date rate information, as well as the details on minimum deposit and contact information. Another useful service is scottrade.com. At their site you can transfer money to your account, which will earn by itself a basic interest rate. From there you can survey their best offers, and easily transfer the amount of your choice into the best CD for time and interest. Other services exist as well, and can prove profitable. The key to all of this is to get the best information. Check your bank, surf online, and donu2019t forget to pay attention to the local newspaper. Often they will advertise good CD rates to attract business. Determine how much you have to set aside, and for how long, and invest with confidence. Even in the most difficult of financial times, your money must continue to work for you. CDs are a safe and effective way to go.