While rates are at historical highs for CDs, ask yourself a few questions about your personal financial situation before making the decision to open one.

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The year 2022 has not been kind to our wallets. But amid rising prices (i.e., inflation) there’s at least one perk: Savings account rates have increased, including on certificates of deposit.

Originally published on nerdwallet.com, part of the TownNews Content Exchange.

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