John Wasik likes Series I Savings Bonds

At the end of a column on the consumer debt burden in the U.S., John Wasik, author of The Kitchen-Table Investor and Bloomberg.com columnist, recommends I bonds.

If you or someone you know is handcuffed by debt, try trading debt for savings. When $100 in debt is paid off, buy a U.S. inflation-adjusted bond, or I-bond. This savings bond, paying a 6.73 percent rate through May 1, is a great deal. It's commission free, compounds interest for 30 years and pays a bonus rate based on the U.S. consumer price index.