After seeing that my savings account netted me $2.84 last year, I had been meaning to investigate other savings options that weren't so pitiful. I knew we wanted to keep some money liquid as a worst-case scenario backup (the stock market crashes and we both lose our jobs), but it's no fun to watch it languish while our investments are cruising along at 15% a year.
Anyway, I had heard good things about online savings accounts, which offer relatively high interest rates (higher than inflation, at least) and are completely liquid - you can pull your money out any time. So last week I looked into them and had decided to go with an ING orange savings account. Interest is 4.5% (higher than inflation, at least), and they are an FDIC insured bank with a good reputation.
Tom took a little convincing, but when I pointed out that an investment of $5,000 would earn roughly $225 a year while a 0.5% savings account earns a paltry $25, he came around.
At any rate, I'm glad I waited that extra week because it turns out that if you can find someone to refer you to ING, your new savings account gets a $25 bonus! And the person referring you gets $10, too! So I got a referral from a friend, and then sent a referral to Tom, and when the dust settled we had two new accounts and a $60 bonus!
So I'm feeling pretty pleased with myself right about now. Now we just have to decide what we should blow our newly-acquired riches on!
2 comments:
All your interests are belong to us.
Yes, but all my bonus monies are belong to ME!
As an aside, I saw a t-shirt with "all your base are belong to us" on it at the goodwill the other day. Almost bought it until I saw the google logo on the other side. Wonder what google was using that saying for.
Post a Comment