Monday, October 20, 2008

Save it for Later

Well, since my money market is drawing less than 2% interest, I'm switching to savings that actually draws interest!

The new trend is online savings accounts (you've probably seen plenty of those ING commercials).

For a list of different online savings accounts and their features click here.

This msnbc link, though slightly dated, gives you instructions on how to use BankRate to search for good, safe online savings. BankRate has up to the date info on the specifics of any bank you may want to have hold your money.

In the end, I settled with these guys.
3.5% may not sound like a lot more, but it is...and it's now easier to access my money if I need it.

2 comments:

Annette said...

Very interesting. I had been thinking about moving our MMF to something with a better rate and covered by FDIC, but hadn't done my homework yet. Thanks for sharing. I agree - an increase of 1.5% is definitely worth the switch.

Jaime said...

Thanks for the idea! I'll get Nick on this.