Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.

On Wednesday, the Federal Reserve announced a quarter-percentage point increase in its benchmark interest rate, bringing it now above 5%. This rate hike marks a 16-year high and the 10th consecutive ...

High-yield savings accounts offer roughly the same APY and more flexibility. The stock market has achieved much higher long-term returns. If you have high-interest debt, then investing in CDs is a ...

If you are trying to reassess your personal finances and want something more outside the deposit box than a high-yield savings account, it may be time to consider certificates of deposit, or CDs. As ...

Certificates of deposit (CDs) might seem like a good place to keep your money, especially with interest rates on the decline. But the truth is that in most cases, your cash is better off elsewhere. If ...

Certificates of deposit (CD) accounts allow depositors to earn a guaranteed interest rate in exchange for keeping their money in the account for a predetermined length of time. These accounts can have ...

Withdrawing $10,000 from your savings account to deposit it elsewhere isn't a move that should be taken lightly. It can take an extended period to build up those savings, so accessing those funds ...