How to Use an ING Direct Savings Account to Control Your Finances

t's easy to use an ING Direct savings account to get your finances under control. If you are tired of having your monthly budget thrown off every time you decide to buy a new outfit, you can use an ING Direct savings account to smooth out your monthly finances.

ING Direct Savings Account

Instructions

Step 1 Savings Direct
Set up an ING Direct savings account (see link below). The reason that an ING Direct savings account is particularly useful is because ING allows you to set up multiple accounts for free. They also pay competitive interest rates, and they let you name your accounts anything you would like. It's always free to open an ING Direct savings account.
Step 2 Online Savings Account
Create a list of all of your semi-regular expenses, and open an ING Direct savings account for each, and name the accounts accordingly. Estimate how much money you spend in a year in each category and divide that number by 12. Set each ING Direct savings account to withdraw that amount of money from your checking account at the beginning of each month. For example, if you think you spend $1200 every year on clothes, open an ING Direct savings account called "Clothes," and set the account to automatically withdraw $100 from your checking account ($1200/12) every month.
Step 3 Orange Savings
Next time you rip your favorite shirt or just need to buy a new one, simply dip into the ING Direct savings account that you created for clothes and you won't have to break your monthly budget because of an unexpected expense.