Started an Emergency Fund
Written by HIS on March 10, 2008 – 3:44 am -Today was an important day in the start of my becoming more secure financially. I opened a savings account with ING Direct. I was able to get the free $25 they offer for new accounts as well as get Hers a $10 bonus.
I’ve been needing to start an emergency fund for a while now and of course starting this blog provided a much-needed incentive. ING Direct offers good rates of course but a bigger reason for choosing them was that they are NOT my bank! That was a problem in the past when I would try to put money into savings on a regular basis. Access to it was far too easy and I would end up just transferring it right back into my checking when I wanted to buy something.
So I’m starting out with $275 ($250 + $25 bonus). Automatic deposits are set up for the 15th and end of the month so if I can stay the course and not touch the account, it should end up with $1775 by the end of the year. That’s not quite the 3 months of expenses that I would like it to be but I plan on being VERY aggressive in paying down my credit card debt.
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