While I am certainly no financial expert, playing with my money for me is a hobby.... and a game. The game I play is how to get earn more money from the things I already do, or from the things I already have. The more that I can get from not working means the more that I can use for fun and for giving away to others ( one of my spiritual gifts is GIVING ).
So I want to share with you my thoughts. You can take them or leave them... they are just thoughts.
Tip #1
Don't leave excess money in a checking account.... let others pay you to use your money.
Look into on-line savings accounts like ING Direct (Ingdirect.com) or FNBO (FNBOdirect.com). These accounts will pay you more for your money than what you are getting now. Transfer money into those accounts from your checking account, and then transfer money back out when you need it. While interest rates are extremely low currently, over time, this practice will reward you with more money for doing nothing more than making some on-line transfers.
Jeff
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- Jeff and Kris
- St. Joseph, MO, United States
- If you love Him, Why not Serve Him?
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5 comments:
It's true... both parts. right now interests rates at ING are abysmal... but over the last few years Becky and I have banked lots of interest just keeping it invested in ING instead of in our checking account.
How often do you move your money? What is realistic?
Thanks for the tip. I checked out FNBO Direct and it looks like they have better rates right now.
What is your next bit of advice?
I move money about once a week, or whenever, I need it back into my checking account to pay a bill. Just watch how long it takes to transfer. Ing is 3 days, NFBO is 4 to 5 days.
Next tip is coming this week. Hope you enjoy. FNBO is offering better rates right now... but watch how long it takes to move the money. Just time your bills. Make it a game to see how much you can squeez out in increased interest.
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