The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: KevinSpacey on March 10, 2013, 10:38:27 PM
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Hi all,
So for my business its important to have between $200,000-$300,000 available at any one time. Occasionally clients are late paying and in order to meet pay roll and other things I dip into this.
Is there anything better I can do with this $ other than have it in a 1% APR savings account? It is important that I have fairly easy access to the money.
Thanks!
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Depending on how frequently/infrequently you actually access it (besides just needing to have it available) and how much you have to access at a given time, a short term CD ladder with some constantly maturing (and the rest available at the penalty of giving up the earned interest) could be a possibility. Then again, with today's rates, the gains you might get ma not be worth the trouble.
Have you looked into some kind of business line of credit?