I'm Skipping Summer Vacation. A CD Is Helping Me Save for Next Year's Vacation Instead

The right account can help you realize your vacation dreams. alga38/Getty Images This summer, the only beaches I'm visiting are local ones. They're not Instagram-worthy or all that exciting. But with the cost of everything out of control and the economy likely headed for a downturn, I can't justify splurging on travel to far-off destinations. Instead, I'm prepping for next year's vacation. I'm taking the travel fund I've already saved up and putting it into a nine-month certificate of deposit with a 4.25% annual percentage yield to help me realize my vacation dreams next year. Here's why. Read more: Best CD Rates for June 2025: Lock in an APY up to 4.50% While You Still Can A CD can help me maximize my savings I could always put my travel fund in a high-yield savings account, which earns a competitive interest rate and keeps my money safe. That's where I keep my emergency fund for easy access. But rates on high-yield savings accounts are variable and could go down if the Federal R ... Read full article.