CDs provide an easy way to safely stash your cash. Usually paying slightly better interest than a regular savings account, but the downside of the higher interest is the fact that these are time deposits. That means you buy a CD with a specific term, usually anywhere from a month to five years. While you can almost always cash out of a CD before the term expires, there is a penalty for doing so. So, if liquidity is what you're after, a CD may not be the best choice. Here are the details on how early withdrawal penalties work so you can understand when you can cash out and what the damage will be.

It's a new year, so that means new resolutions for many. Whether it's losing a few pounds, cutting back on drinks, or whipping your finances into shape, most of us have a hard time sticking with our resolutions for the long run. So, here's one that's easy to implement and it can make a real difference in your finances going forward. To put it simply: get organized. That's right, it's time to get your finances in order. By starting a filing system and automating many financial tasks you can not only save time, but even save money. Get the new year off to a good start.

Vehicles don't last forever, so you'll eventually be in the market to replace the car you currently have. But should you buy or lease? Owning a vehicle is an expensive proposition no matter how you look at it, but does it make sense to sometimes lease? Or is buying always best for your wallet? Unfortunately, there isn't a simple answer, but if you take a look at your situation you'll be able to decide if it's better to buy or lease.

For over a year now interest rates as a whole have generally been falling. Of course you may have some instances where rates are increasing, for the most part when it comes to savings accounts, CDs, and even mortgage rates, they are down sharply compared to a few years ago.

Good for Debt, Bad for Savings

Lower interest rates are good for borrowing money since it means you will be paying less in interest. The bad news is that the Fed rate cuts don't directly translate into lower rates for consumers. These cuts can take many months before the effects are felt on your bottom line, but you can begin shopping for lower rates now. Once you can begin to benefit from the lower rates, you'll have more money in your pocket as less is being spent on interest payments.

While lower interest rates saves you money when borrowing, the opposite is true when you are saving money at the bank. As interest rates fall, the rate of return on your checking, savings and CD accounts will likely follow suit. If you enjoyed the comfortable savings rates during most of 2007, you're probably not very excited as many rates have now dropped below the rate of inflation. If you can, make sure you're getting the best rate possible and explore other banks to ensure you're getting as much interest on your savings as possible.

Learn more about interest rates:

• How to Plan for Lower Interest Rates
• What Are Interest Rates?
• The Federal Reserve and Interest Rates