No. of Recommendations: 0
Starting in January, when DW goes back to work, we will be starting a new savings plan. Our budget will include $100 from each paycheck (about $400/month) to be direct depositied into a savings account.

About half of that money is for the tax bills on our house. I refinanced the house with no escrow for taxes, so I need to save for that myself. No big deal, just need to plan for it.

The other half is for our emergency fund. We have a small one now, but with DW home on maternity leave I may need to dip into it.

Anyway, I want the money to be difficult to get access to, so I don't feel tempted to dip into it for no good reason. For the record, I don't think that would happen, but I also didn't think I'd still have CC debt in 2003 :)

But I have to be able to get money our of it as the tax bills come due, or if a justified emergency comes up.

Many of you have talked about ING. I was going to simply open a savings account with my bank (Wachovia) and put to money there. Before I do, I have a few questions.

What is ING and do you think that may be a better solution?
Where can I get more information on ING?
Do any of you have any better/other suggestions?

Thanks for all your help.

Logan


Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement