In a previous Curtis Money Post, we talked about the 10% solution which encourages you to pay yourself first by taking 10% of every paycheck you receive and setting it aside for a rainy day (or a very cold one).
But where should you store those hard-earned funds?
Interest rates are pretty meager these days but even a small amount of interest is better than none.
Plus it will add up over time.
Bankrate.com keeps track of interest rates for checking, savings, CDs and money market accounts.
Last month, Forbes published an article which proclaimed “Online Banks Offer Best Savings Account Rates For 2013″.
Number one on their list is Ally Bank.
I personally have been using this online bank and have been very impressed with their customer service and how easy (and economical) they make it to both save and access my money.
But is online banking right for you?
We’ll explore the pros and cons of online banks vs. traditional “brick and mortar” banks in the next Curtis Money post.