Cashing In Savings Bonds To Pay For Vacation May Be Smarter Choice Than Paying With Credit Cards

As millions of Americans are startng to pack for their summer vacations, many are pulling out their savings bonds, checking values and cashing some in before they hit the road.

SavingsBonds.com has received numerous calls over the last few weeks from bond owners looking for values and wanting to know which bonds they should choose (from their portfolios) to cash in. Many indicated that they would rather cash in (lower yielding) savings bonds than have to pay high interest credit card balances for months.

According to some bond owners, cashing in bonds earning only approximately 3-4%, as opposed to paying nearly 18% on credit card balances for vacation expenses makes a lot of sense.

With new bond management services, and monthly e-statements summarizing current portfolio values, along with important financial, timing and taxation data, savings bonds are becoming more top of mind for investors than they have been in the past. For years, bonds were often purchased, stuffed in shoeboxes, drawers or in safety deposit boxes, only to be forgotten about. Now, bond owners can learn practically everything they need to know about their bonds, thanks to the internet.

For those who have a stack of bonds, SavingsBonds.com suggests that they create a complimentary SavingsBonds.com BondInventory Report© and access the company’s Cash-In Report©. By entering the amount of money needed, the Cash-In Report© will indicate which bonds should be cashed in first and which should be held, based on financial performance. It eliminates a lot of guesswork.

While savings bond are often purchased for retirement and education purposes,SavingsBonds.com is finding that more people are using their savings bonds for other reasons. For many, cashing in some bonds to fund a vacation is a lot less stressful than returning home to credit card bills.

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