Personal finance is important, especially in economic slumps. Whether you are an in-debt college student considering student loans or a successful business owner with a sum of unspent funds, you need to keep watch over your money. Making money is something altogether a different subject, but once you have it you should let it work for you. Having it sit in the bank without earning interest over time does you little good. Inevitable inflation makes your cash lass valuable than if you were to spend it as soon as you got it. Instead of wasting more hours of your life at work, employ your money to earn on its own. A safe and easy solution that does the job for you is to take advantage of compounding interest through an insured high-yield online savings account. This is a small step that could give you results while keeping your money liquid without any risk or fees.

Initially EmigrantDirect was a leader in offering the greatest yield with the least hassles. They have since dropped their rates below the other online competitors, making them not as appealing. E*trade has stuck in the top percent of better rates, but their service hasn’t rated as well. Another online bank that gets good reviews in ING Direct.

Currently, I’m getting rates of about 3.00% APY, significantly higher than traditional interest-earning bank accounts with comparable balances requirements (0.20% average). I pay no fees nor am I required to have a minimum balance. There is free transfers from other banks, which I can setup online. I am FDIC insured up to $100,000. I am a satisfied customer. They even have the option to create a linked paperless checking account (also with interest-earning power).

If you open this account using my referral below, make an initial deposit of at least $250, and keep the account open for at least 30 days, you will receive a $25 bonus to get you started and I will get a $10 thank you bonus.

ING Direct Orange Savings Account registration

If you see the following after you click the link, that means someone has already used up the code. If you still want to score the $25, leave a comment on this page and I’ll send you a new link with the private email you provide along with your comment.

We’re sorry, but the referral link within the email you received has expired and is no longer valid. We recommend that you contact the sender and ask them to re-send the referral email. Or click ‘Continue’ to proceed with the application process without the account opening bonus.

And let the compounding begin…