Is it better to put money in a CD or money market?
Choosing between a certificate of deposit and a money market account depends on your need for liquidity versus your desire to lock in a guaranteed interest rate. A CD locks your money away for a fixed term—ranging from several months to years—in exchange for a guaranteed, predictable interest rate that remains protected against future market rate drops. A money market account provides variable interest rates that fluctuate with market conditions, but it grants you immediate liquidity with check-writing privileges and debit card access. If you do not need access to the funds and want to secure a high yield before rates fall, a CD is better; if you require emergency cash access, a money market account is superior.
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