One of the best things I have ever done to save money was have a money market account at ING (now Capital One).
Why is this so different than another savings account?
There are two gigantic differences:
1. We don’t do any other banking at ING. Therefore, we never log-in and see how much money is in there and therefore are not tempted to spend it.
2. Sub-accounts. Instead of having a ton of different accounts – we just have sub-accounts. For instance, we have our primary account, but underneath this we have sub-accounts for: vacation, new house, car, etc.
There are other differences but these are the primary two that really sets this bank apart.
I encourage everyone to check-it out. Heck, you get $20 just for trying it out.
I almost forgot what might be my favorite part of this bank – they don’t mail you anything! This is the only bank that has ever done this and I love it! My wife and I hate the mail! It junks up your house, is horrible for the environment and generally serves no purpose. Unless, of-course it’s a check!