Do you have an account with INGdirect.com?

If you don't you should get one. INGdirect is an online bank that pays 4.3% interest on savings that you have with them. They are only online so they can pay more interest since they don't have any physical buildings to maintain. They are FDIC insured and have been around for at least 7 years online.

How do you have an "online" account?
First, you register your information with them and include your current bank information. They then send a small deposit to your bank. It is something around $.13. You then confirm the amount they sent you and you have an ING account.

How do you put money into the account?
I have an automatic savings plan which withdraws money from my regular account on the 15th and 30th of each month. This way I don't think about the money. You can also log into your ING account and tell it to transfer the money if you don't want automatic withdrawl.

Why do I want an online account?
I like it because it actually pays interest more than .1% like my other bank. Second, the money is seperate from my bill-paying and spending money. I can't drive up to the ATM and get it. I have to think about what I really want to do with the money.

Do you have sporadic bills that you only pay a few times a year?
This is a good place to keep your money. Decide what you need to pay (property taxes, Christmas budget, summer vacation, etc.) and set up a seperate account for each. Divide the amount you need for the year by 12 and deposit that amount of money each month. For example, if you wanted to spend $1200 on Christmas you would deposit $100 each month. It will sit there and earn interest and it will be there when you need it.

If you are interested in getting a free ING account, email me at adh913@yahoo.com and I will send you a referral link in an email. You will then get a $ bonus for opening the account.

If you already have an ING account let me a comment and let me know how you like it!