Many of us have resolved to save our money at one time or another (usually after the holidays!) but the next time we see something on sale or that we “just HAVE to have” – our savings plan goes right out the window. Fortunately, creating a savings plan you can stick with is easier than you might think. Even if you’ve tried before, there’s a simpler way to achieve your savings goals. Here’s how.
Open a Savings Account with Interest
It’s best to look for a no-fee savings account that pays you interest, such as the high yield savings account from Aurora Bank (Equal Housing Lender, Member FDIC). These types of accounts have no fee (once you reach a $500 minimum balance) and have competitive interest rates that are in line with, if not better than some of the market rates on savings accounts you’d find at your local bank. What’s more, you can link your savings account to another type of account (such as a checking account) for added overdraft protection, helping you avoid those pesky bank fees. Read the rest of this entry »