With the temptation to pull out your credit card on every street corner and web page, saving sometimes money is not an easy task. At NextAdvisor, we review the top online savings accounts and we came with a list of basic saving tips so you can watch your account grow.
Source: 401K Flickr
1. Find the best rates. Although the rate of these days are not at record levels, every penny counts when you are trying to save. At present, online savings represent the highest APY is at CIT Bank .90% and Ally with an APY of .89% and ING, which has a APY of .80% .
2. Get a savings account with limited access. While all savings accounts allow you to access your money and withdraw it when you need, some are much easier and more tempting than others. For example, HSBC Advance allows you to access your money any ATM , not just ATMs of HSBC. All you have to do is order the ATM card from them. If you want to make more saving and less spending, this feature can be a little against-productive. Instead, opt for an online savings account that allows you to access your funds online, and even a pair business day waiting period to receive money, as ING.
3. Create a savings plan. Whether you are paid monthly, every 2 weeks or every week, make a promise that you deposit money into your savings account each time you get a paycheck. It does not matter if it is $ 10 or $ 100 each time, no matter what, you will always save money.
4. Enjoy the automatic backup feature. Build off point No. 3, another way to create a savings plan is to use the automatic backup feature in your online savings account. For example, ING, our Top rated online savings account, you can set up an "automatic savings plan" that allows you to have a fixed amount of money transferred to your account regularly from your linked account. Again, it does not matter if you transfer $ 10 or $ 100, after all. And with a car savings plan, you can ensure that you save without having to click.
5. Get rewards everywhere you can. Make sure your credit card has a good rewards or cash back program. This will help you save even when you spend money. Use the cash back you get to build your savings account, or enjoy the rewards instead of using your own money to buy things. Love traveling, but this is the way to save? Our analysis of the card travel rewards shows you how to make the most of your points and travel expenses, save you hundreds in the long run.
Now that you are ready to register, visit our online savings account comparison table and get to it!