A savings account!

I signed up for an ING.com savings account yesterday. I put $50 bucks in for the initial deposit, and was able to schedule $100 dollars on the 15th and last day of the month starting this month. It has a 3% APR. The reason I went with ING.com is because I like the idea of it not being tied to my bank's online system. I have tried that before, and found that it was way to easy to transfer money from the savings back into my checking account. Money only stayed in the account for a month or so before it was transferred back to cover bills.

I found out about ING.com from a friend of mine who uses it for his savings and debt reduction. He is about to pay off his biggest debt, and makes less than me. This really got me thinking about why I don't have any savings, and I have not really attacked my debt after years of making decent money. If he can, then I can! And you know what, you can too! It doesn't take much. It just takes paying yourself first, and an honest assessment of what you make and what you spend your money on. We recently did this and we cut back on our bills.

So, by the end of the month I'll have put $250 into my account. Woohoo! I plan on doubling the bi-monthly payments once I see how the ING thing goes.