Best High Yield Interest Savings Accounts

There are a lot of people who do not save money. The rule of thumb is that you should save 10% of your take home income – no exceptions. The idea is that you pay yourself first, and pay your bills last. This does not mean that you ignore your bills. If you are going to be short after you dedicate 10% of your income to a savings account, that means you either need to figure out a way to earn more money or cut some expenses. Either way you solve the problem, you need to save money. There are a lot of free savings accounts to open, and the easiest ones are online. There is no reason to have a good high yield savings account to start now. If you already have a savings account, then you should compare different banks to make sure that you are getting the best rate. There are three good banks that are doing quite well. Those three are Ally, HSBC, and ING. One thing that sets the last two apart is that they offer checking accounts. Each of these banks offer free savings accounts with good interests rates. The one thing that I absolutely hate is when you go to a bank like US Bank to open a savings account, and they tell you they want to charge you a monthly fee. Excuse me, but they are borrowing my money for them to loan out to other people, and they want to charge me for it? Do not forget, they are borrowing from you.

On a side note, if you get a checking account with ING they offer an interest rate on the balance of the checking account. Now, not every person keeps a lot of money in his or her checking account, but if you want to take advantage of earning more money from your balances, you might want to take a look.