Works for me Wednesday-ING Direct

I have a bad habit of spending money if I have cash. I also tend to spend whatever I have available in my checking account, because it's easy to just hand over my debit card and go on about my business. Somewhere I heard that in order to save, you have to pay yourself first. However, if I put the money in my local bank savings account, it's all too easy to transfer that money over into my checking account when the need arises. Therefore, my savings account, does not have any savings in it. Kind of defeats the purpose right?

So what I decided to do was use a great resource, ING Direct. I can set up an account, but there is no ATM or debit card to allow me quick and easy access to the money. I can have ING withdraw a pre-determined amount from my checking account, however often I set it up to do so. I can now build a savings account, that I can only access if I log into the account and withdraw the money.

I chose to open an Orange Savings Account. This type of account matched what I needed the most. It offers high interest (3% APR), no service charge, and no fees. There are no minimum required balances, which is perfect for me, because I often have to pay $5 to my local bank for not having the minimum balance in my account. There is 24 hour access to my account, no need to change banks, PLUS, the Orange Savings Account is automatically linked to the checking account used for the initial deposit. This next part however, is what really got me!

Pay Yourself First!
The Automatic Savings Plan allows you to automatically have a fixed amount of money regularly transferred to your high interest Orange Savings from your linked checking account. You will be saving your money effortlessly and will have money for a rainy day or to achieve your dreams. You can either call us or set up your Automatic Savings Plan on this website. You specify how much money you would like transferred, and how often you would like it moved. This is the simple, easy way to really grow your Orange Savings Account.

How perfect is that? Just what I had been telling myself before I heard of ING Direct! Yay!

Another great benefit is that I can refer up to 50 people to ING Direct and both of us benefit. The person who signs up and makes an initial deposit of at least $250 will get an automatic $25 deposited into their account, that's a 10% return! Can't beat that. I will get $10 for each person referred who signs up, this is potentially $500 dollars for me.

If you're interested in a referral, please contact me and provide me with your email address. Thanks!

Cross posted at To Be Debt Free

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  1. My husband and I have been thinking about opening an ING account but just haven't...thanks for the reminder..

  2. No problem! I think you'll really like it.