Thursday, February 07, 2008

Boo, Dropping Interest Rates!

I had just gotten my savings in my various ING accounts to be big enough that each month I got a $25 interest payment. Because, as previously mentioned, I have something of a craze for round numbers (in this case, that means numbers ending in 00, 25, 50, or 75), I transfer the interest from each subaccount into my "Freedom Fund" account. Then I round it off--usually, that's been by adding the last couple of dollars to make it to a multiple-of-25 number. But of late, I'd been rounding it off by transferring a few cents of interest out, and into my grad school account (the one account that escapes my round-number mania). That was great. No waiting, and no money needed.

But with the recent interest rate drops, I'm definitely going to be back to having top it off from my checking account. And it looks like I'll be staying there for another $600 or so.



SavingDiva said...

The dropping interest rates make me sad too :(

Anonymous said...

can you explain how to make subaccounts with an ing savings account? i have ing but don't know how to do it.

thank you

English Major said...

Anonymous, you log in and then go to "open account." It's a very quick process since the system already knows all your information, and then you get another account viewable on your main page. Transfers between ING accounts are instant, which I like, and though this process is initially tricky, it's super-easy once you know what to do. Just pretend you're opening a new account.

Anonymous said...

ah i see, so it is not a sub account under your savings account but a new account that shows up. thanks!

moonimus said...

Yeah I'm not a big fan of the falling interest rates either.