Colorado Governor Bill Ritter, Jr. has issued a mandate imposing four additional furlough days this year, bringing the total number of furlough days to 8. The current recession has forced the governor to act in order to save more state funds. The furlough days affect all state employees, or about 15,500 people, and aims to save $27.2 million dollars for Colorado. There is still another $270 million shortfall facing the state, which Gov. Ritter is expected to address shortly.
The Gov. suggests that families are making hard decisions and tightening belts, and so the state must do the same. Here’s a different suggestion: tighten the belt while fattening the wallet.
You can either accept that you will be losing an additional four days’ salary, or you can try to earn more money to make up for the loss. The best way to approach this is by investing in a CD. Odds are that you do not want to risk losing more money on stocks, which many believe is currently overvalued. Instead, invest in a certificate of deposit to guarantee a return for the remainder of the fiscal year.
Making up for your furlough days is easy with a CD. Simply search for the highest rate you can find using our online rates chart and the only step left to take is to sign up. Enter your zip code in the field and you’ll be provided with the best rates in your area instantly. You can even search for the best online and national rates.
Don’t let the extra furlough days get you down. Colorado is filled with abundant beauty, so go out and enjoy it on your extra days off. Just make sure you sign up for a Colorado CD account rate so that you’re earning interest instead of losing more money!
To read more about Colorado’s increased furlough days, click here.
