Start Saving...High Yield Savings Accounts

The equity markets may not be the best place to have your cash these days, call your financial advisor (or palm reader or whatever) and figure out what the best plan is for you. Something that we do here DealCityBlog Central is put money into a savings account. We use direct deposit, and the money goes right in and it makes saving pretty painless. Here is a list of a few online banks that are offering great rates on savings:

1. E-Trade : 3.30% APY at this writing (we use E-Trade. I like it.)
2. ING Direct Orange Savings : 2.75% APY
3. Dollar Savings Direct : 4.00% APY (OMG! as the kids say!)
4. FNBO Direct : 3.25% APY

The best thing about these banks is that these aren't intro rates or only for accounts with 5 digits...it is from the very first dollar. It won't get you rich quick, but that isn't the point. Savings is for saving you when you need the cash. Sock some away for a rainy day. And, if you've looked at the economic reports recently, it seems like it is pouring out!  

Go ahead, open an account. You will like it. I promise.