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Savvy ATM: What Is an ING Savings Account?
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
Money Tip: Alternative to Overdraft Protection
Online banking makes tracking expenses much easier than the days of checkbook registries, but it doesn't ensure you're safe from overdrawing your account. Spending money we don't have always comes with a price, whether in the form of credit card interest of overdraft protection fees from your bank.
If an outstanding check slips your mind and it bounces because you spent money that you didn't really have, overdraft protection can cost about $20-$30 each time you use it.
Interest Rate Cut Not the Best News For Your Savings Account
Yesterday the Federal Reserve announced its seventh interest rate cut since September, lowering the federal funds rate by a quarter-point to 2 percent. Interest rates are now at their lowest since 2004 and reflect the Fed's ongoing concern about a weakening economy. The prime lending rate that affects consumers and businesses dropped correspondingly, which could have a positive effect on some credit cards and loans.
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5 Savvy Ways to Spend Smart and Save This Weekend
If you spent Monday through Friday monitoring your spending and trying to be productive and efficient, don't erase all your hard work with a wild weekend of spending. Consider these smart saving tips before you whip out your wallet this weekend.
What's Your Most Effective Budget Tip?
Creating and sticking to a budget is hard. Period. It takes dedication, daily effort and compromise.
Would You Enroll in a Financial Planning Bootcamp?
I’ve always been kind of intrigued by Stanford grad Ramit Sethi’s New York Times bestseller I Will Teach You to Be Rich. I dismissed the book at first because the gimmicky title brought to mind images of the question-mark guy on late-night infomercials, but the more I heard, the more interested I became. To hear why I changed my tune, read more
Share Your Career and Finance Advice in Our Community!
Vent about your job, brainstorm your next big move, and share your personal and professional success with other readers in the SavvySugar Community! What do you do? Find like-minded savvy friends in some of our hottest groups.
What's the Rate on Your Savings Account?
I have friends that have admitted to signing up for a savings account without even considering shopping around for a better rate.
If it were a one-time thing (say purchasing those beautiful Marc Jacobs pumps on impulse without checking online for a better deal) I might not be so devastated, but not seeking out a high yield savings account means money lost every single month.
I think the problem lies in the fact that most people don’t realize what their rate or yield is.
Let Your Savings Do the Work
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?!
Giving the Gift of College Savings, Online
Buying gifts for kids is fun and easy — who doesn't love sorting through all of the cool toys and adorable books geared toward lil ones? If there's a child in your life who will be getting gifts from you often, like a niece or nephew, you may consider giving a gift that takes into account the child's future.
State-sponsored 529 plans are a great way to save for college because they are tax-deferred accounts, and only the interest earned in the account is taxed once the funds are withdrawn and put toward educational expenses.
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