November 8th, 2007 | 
Author: I’ve written about ING Direct before, but now is definitely the time to switch.
ING Direct offers high-yield savings accounts, checking accounts, and CDs from 3.5% up to 5% (rates fluctuate occasionally). If you get the Electric Orange checking account, you can also get a MasterCard debit card.
So, if that’s not enough for you, ING is running another cash-back promotion (which they did for a 2-month period in the summer) from November 15th, 2007 through December 31st, 2007. For every transaction you make with your Electric Orange MasterCard debit card, you get 1% cash back. Beat that, every other bank!
So, if you let your money sit there, you get around 3.5% in interest. If you spend it, you get 1% cash back. This sounds like a win-win to me.
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Money MANAGEMENT is what it is all about. 1% back when spending money is not bad AS LONG AS you do not spend more money than you normally would to try and maximize the 1% back. My comment would be to concentrate on saving as much of your SHORT TERM money at 3.5% and not worry about the 1%.
Saving money is fast way to go broke!
That’s what I was getting at is that with an Electric Orange account, spending is good and saving is better, as opposed to a normal checking account where spending doesn’t do anything for you and saving has crap returns.
saving didn’t get me a big screen tv, then again neither did buying a new car.
damned if I do, damned if I don’t