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How to avoid dipping into your savings account

Posted by Jorja Marion On Dec - 18 - 2017

Saving money is not easy, but perhaps more difficult is stopping oneself from diving into those savings.

It’s a constant battle for consumers to save money. According to the Bureau of Economic Analysis, personal saving as a percentage of disposable personal income dipped year over year in September from 5.3 percent in 2010 to 3.6 percent in 2011.

To become a better saver, Bankrate offers a few suggestions on how to avoid dipping into your hard-earned savings.

“I recommend opening a money market account at a bank where you have no other accounts. A small credit union is even better, so you can perhaps earn a better rate,” says Kelley Long, a Chicago CPA and personal finance coach.

She also advises savers not to get an ATM card or sign up for Internet account access.

ING DIRECT Kids Savings Account

Posted by Jorja Marion On Jun - 28 - 2017

ING DIRECT has introduced a new product called the Kids Savings Account. The Kids Savings Account is a kid-friendly bank account that teaches kids how to save their money the safe and responsible way. And like the Orange Savings Account, there are no fees, no minimums and the money is FDIC-insured. Currently it pays a kid-friendly 1.00% variable Annual Percentage Yield (effective 02/23/2011). You could do much the same with a regular Orange Savings Account but this is an interesting alternative that allows the kids to check their balance, change their personal info, change their PIN, change their account nickname, create a personalized ‘Saver ID’, and download their account history, tax forms and eStatements.

ING DIRECT Kids Savings Account

Posted by Jorja Marion On May - 14 - 2017

ING DIRECT has introduced a new product called the Kids Savings Account. The Kids Savings Account is a kid-friendly bank account that teaches kids how to save their money the safe and responsible way. And like the Orange Savings Account, there are no fees, no minimums and the money is FDIC-insured. Currently it pays a kid-friendly 1.00% variable Annual Percentage Yield (effective 02/23/2011). You could do much the same with a regular Orange Savings Account but this is an interesting alternative that allows the kids to check their balance, change their personal info, change their PIN, change their account nickname, create a personalized ‘Saver ID’, and download their account history, tax forms and eStatements.

EverBank Offers New Savings Account Customers 2.25% APY

Posted by admin On Jan - 17 - 2016

National bank EverBank is offering brand new customers who open a new savings account an initial 2.25%APY rate. The 2.25% bonus will last for three months and after that time period has passed, the APY rate drops to 1.51%.

The terms to qualify for the initial bonus rate includes:

  • Minimum deposit of $1,500 required
  • Fee free online and mobile banking
  • 6 complimentary monthly withdrawals
  • FDIC insured up to $250,000

Additional benefits to opening an EverBank account include their promise to the “Top 5% Yield Pledge.” The company guarantees that their earnings rate align with the top 5% of competitive accounts of leading banks.

>> Savings Account Rates

Other Terms and Conditions may apply.

Best savings account rates in California: Top 2

Posted by admin On Dec - 14 - 2015

If you’re in the market for a traditional savings accounts – one with a variable interest rate and limited withdrawal allowances, don’t expect much in the way of great interest rates. The average yield for online savings accounts (money market accounts) are providing yeilds of less than 1.00% APY and the average yield for 12 month CDs (fixed interest rate for 1 year with penalties for early withdrawal) are garnering a rather pathetic 1.50% APY.

However, if you reside in the state of California and are willing to consider a couple of credit unions as potential options for your business, then you may be able to snag some higher rates. Bel