Discovered your site while searching for a good info on investments. I have to say that I learned a lot in just one sitting. I will definitely add your site to my favorites.

Yes, that would be a bold move and I’d actually recommend it specially for those who are trying to muster some discipline in saving.

And you’re right, some banks do allow you to preterminate TDs with only interest reduction as consequence and no fees (i.e., East West Bank).

Under this scenario, setting up a TD from the very start would now be the better option – you get to enjoy optimal interest rates without much compromising your liquidity.

Thanks for pointing this out.

Just my own thoughts. For me, it would be easier if you would set up first a time deposit than concentrating first on your savings account. Because putting ur money in a TD would be a bold but sure move that you would not touch your money. Because if you will set up a savings account first, realistically, most of us would never be able to resist the temptation of filling up a withdrawal form or going to an ATM machine. If you are planning to save, then go for a more concrete saving mode than just a mere savings account right? Besides, if you need money for emergency purposes, you can preterminate ur TD anytime, of course with some interest reduction and pretermination charges but it would not eat up much of ur placement. Yun yung challenge sa yo not to touch it whatever happens, right?

I totally agree with you that before investing, you have to learn to save first. It’s never a good idea to invest using borrowed money…unless you’re Donald Trump, who lost a lot of money but regained it all back after a few years.

At the end of the day, you have to build better money habits like learning how money works, jumping in to gain actual experience by starting to save and invest, and having faith that everything will be OK because your dreams are bigger than your fear of losing money.

Great tips on saving and investment, something that I can really relate to because it’s not too technical lol

I love to backread to those interesting investment topics when I have the time.