I've talked about the benefits of an ING Orange savings account and one of its biggest appeal was the high-yield savings rate. Well, ING's interest rate right now is currently 1.1 percent, a far cry from its 4 percent back in spring of 2006. Don't get me wrong, ING still has its positives like having no fees, no minimums. and a user-friendly interface. Rates generally go down when market conditions are tough.
I started looking for another no fees online savings bank and recently turned my eye towards SmartyPig. To find out what I learned, read more.
Gas is now going for about half of what we paid at the pump through the Summer, and the reduced cost is a welcome retreat from the strain that filling up had been causing consumers. We can hope the days of gas price-induced desperation (remember the new dad who named his baby boy after a radio show for a $100 gas card?!) are behind us, and before we go forgetting the damage gas prices did to our budgets, let's take the opportunity to do something with the extra money we're saving.
We managed to make it when our money was going into the tank instead of staying in our bank accounts, which means we might not miss at least some of that disposable income if it was out of our reach. Figure out how much you've saved in gas this month compared to what you had been spending at the height of gas prices, and apply at least part of the difference to the amount you transfer each month into your savings account. It will feel good to watch your savings grow, rather than burning your cash on the cost of fuel.
While many retailers started giving their full court press in holiday advertising at least a month ago, most shoppers shift gears to the holidays after Halloween has passed. Well, tomorrow marks the occasion for haunted houses and candy corn, which means November and intense holiday shopping is already upon us. During the holidays, saving often takes a back seat to spending, so here is my solution for ensuring you're left with more than pennies after the season of giving has ceased.
In-the-Black tip: If you haven't already, set up automatic transfers from your checking account to a savings account that occur whenever you receive a paycheck. The money will be out of sight and unavailable when you're out shopping with your debit card, and you'll feel better about spending money on gifts for others knowing that you've already taken care of yourself.
When I was a fresh college graduate earning my first real paychecks, I quickly saw how living in a city like San Francisco isn't made for entry-level salaries. Exploring the city and all of its nighttime gems were certainly priorities, but the biggest priority was to keep myself out of debt while not depriving myself of enjoying my new surroundings.
I struck a balance by forming the valuable habit of paying all of my bills on pay day. That practice, coupled with automatic 401(k) savings and automatic transfers to a high-interest savings account, can allow for a relatively low-stress financial life. Once in a while we may make money mistakes that can throw us off track and unexpected expenses inevitably come up, but forming the habit of paying your bills as soon as you are paid will keep you out of serious trouble.
I read the Savvy posts almost every day because I am in tons of debt and seriously need help. I'm the type of person that needs actual tricks to save. I have zero willpower when it comes to money. I keep seeing the Bank of America adds for Keep the Change and I feel that could really work for me. I was just wondering if you knew of any Canadian institutions offering similar programs. I've tried searching on the Internet but with no success. Any more tricks you could offer?
Building up savings is one of the best ways to set ourselves up for financial success, and the amount of questions coming in lately about ING accounts tells me that you're all on your way! There are a number of online banks out there, meaning they don't have actual branches you can physically walk in to and speak to customer service in person, but ING is a particularly appealing choice to many savers for a few key reasons. Find out what they are when you read more
There's no real secret to reaching your savings goals, but there is an attitude of commitment that you should consider adopting in order to accomplish them. In order to keep your commitment to save, make it a priority: decide what you will save each month and learn to live on the rest.
This approach ensures that you don't run out of money each month before you get around to saving some, and it means that you don't have to abide by irritating mantras like the latte factor. Everyone's spending priorities are different so all encompassing mantras aren't always appropriate, but no matter the reason for saving everyone aiming to set aside more money shares a common goal. Discover a few not-always-obvious places to find extra money when you read more
You work hard for your money. Did you know your money can work hard for you, too? Your savings can grow with a savings account with a great interest rate, so you can afford to pile on a few fancy accessories?! How can you let your savings do most of the work for you?
I suggest you take a look at the rate and yield you’re getting with your bank to make sure you’re not missing out on extra savings. Some banks offer high-yield savings, while other banks offer little more than tiny one-percent savings yield.
We all know we should save, but sometimes other things get in the way and we have racks of shoes to prove it. Paying yourself first means you won't be tempted to spend the money you need to be saving. Tricky, eh? Saving now ensures you're never caught in a sticky situation without the cash to help you through it. Think of it like that umbrella you keep in your trunk for a rainy day — you hardly realize it's there until you really need it.
Your savings can really grow with one of WaMu's high-interest savings accounts. Total Deposits at Washington Mutual are FDIC insured. Thank you to WaMu for sponsoring this post.
I bank online because waiting in line just isn't my thing. I need the ability to access my account whenever I want and from whatever computer happens to be in front of me.
Our friends at WaMu know your time is precious and make online banking as easy as store-bought pie. Most applications to open a checking and high-yield savings account online take only seven minutes, which means you can get started on organizing your finances in the same time it takes to shower, and do it all while wearing your comfy robe and fuzzy slippers! If questions come up, customer service is always around to help.
When you bank online, all of your latest balances, statements, and transactions are available for your viewing pleasure. Worried about your privacy? Many banks will send you email alerts to keep you informed about your account activity.
One of the biggest benefits is the option to pay bills online; you can pay all of your bills in one place and even have the ability to set up your account for automatic payments. That leaves more time for yourself, something all of us could use. Tell me: Do you bank online or visit your local branch?
Thank you to WaMu for sponsoring this post.
Total Deposits at Washington Mutual are FDIC insured. Source