University of Hawai'i University Relations Media & Publications Honolulu, HI 96822	(808) 956-8856 Telephone (808) 956-3441 Facsimile ur@hawaii.edu E-Mail
Contact: Ron Wall, 956-2253	Air Date: April 29, 1998

Choices for Savings Pt. 1 Setting aside money for a rainy day is important, but what about those in between days or, as University of Hawaii family financial counselor Ron Wall puts it, short and intermediate-term risk? Here are four options you might want to consider when investing your heard earned cash. The first is certificates of deposit or CDs. If you do your homework, Wall says you can increase your return by as much as 118 percent by moving money from the lowest-yield savings account to the highest-yielding 12-month CD. If you don't mind investing out of state at reputable banks offering the same federal insurance you can push this increase up to as much as 146 percent. Next is money market funds. These are a type of mutual fund that invests in very low-risk, short-term securities with maximum emphasis on safety and liquidity. The best part is that you can earn significantly higher rates of interest while you retain ready access to your cash. More about financial investing on tomorrow's University Report, I'm Tracy Orillo Donovan.

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